British Columbia’s film industry may be on track for its best year ever, defying the effects of a stronger Canadian dollar and competition from U.S. states.
With 33 productions this year, the industry is already on par with 2005, when it contributed C$1.2 billion to the provincial economy, according to the Vancouver Sun. That economic impact is about 50 percent more than in 2003, when a rising Canadian dollar lessened B.C.’s cost advantage. Credit for the rebound comes from diversification of the industry, with a steady flow of made-for-TV movies, small-budget productions and animation.
In Cascadia, Washington and Oregon are both trying to attract film production also, but the remaining currency edge, tax breaks and existing industry give B.C. critical mass. The Tyee recently reported that California’s renewed incentives to keep Hollywood working closer to home may mean that B.C. increasingly turns to Europe to supply its film industry.
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2 responses to “B.C. film industry may set record”
That’s interesting. You’d think that the weak dollar would make going north of the border less attractive. But I guess it reinforces the importance of critical mass.
It seems that it took years of investment — as well as favorable exchange rates — for B.C. to build that industry. Meanwhile in Washington the film office’s budget is on the cutting block most years.