MONTRÉAL, Sept. 26, 2018 /CNW
Telbec/ - Quebecor has joined its voice to that of a major
U.S. producer, whose comments were reported in a Montréal daily
this morning, and is urging Québec's political parties to make a
formal pledge to maintain the predictability of the Film or Video
Production Services Tax Credit and support the continued
development of Québec's thriving filming industry.
"We have been pleading our case to the Couillard government for
more than a year, to no avail," said Pierre Karl Péladeau,
President and CEO of Quebecor. "All we're asking for is the fiscal
predictability we need to be able to invest some $40 million to build new MELS studios in order to
meet the needs of the producers who are knocking on our door,
creating hundreds of new jobs in the process. Without such
guarantees, studios such as MELS are at the mercy of shifting
government policies, such as the cuts in business tax credits in
2014, that would make Québec less attractive on the highly
competitive film production market. If our governments were able to
extend written guarantees regarding tax credits to companies such
as Ubisoft and Warner in the video game industry, why wasn't the
Liberal government able to do the same for an industry as important
as film and TV production?"
While 23 foreign films were shot in Québec last year, generating
direct expenditures of $383 million, up 28.5% from 2016 and
440% from 2009, Québec currently accounts for only 11% of foreign
film productions in Canada,
compared with 62% for British
Columbia and 23% for Ontario.
While the supply of film studios in Québec is stagnant, the rest
of Canada and the rest of the
world are expanding their facilities. After acquiring Pinewood
Toronto Studios in March 2018, Bell
announced plans to add more than 170,000 square feet. This month,
plans were announced for the construction of First Studios City, a
$100-million facility in the
Toronto suburb of Markham which will include the largest
soundstage in Canada. Meanwhile,
important investments in film studios are also being made around
the world, including by the state of Georgia, which now has facilities measuring
millions of square feet that are attracting dozens of major
productions per year.
It should also be noted that foreign productions that choose to
shoot in Ontario rather than
Québec can currently take advantage of a 21.5% film production tax
credit (compared with 20% in Québec) and an 18% computer animation
and special effects tax credit (compared with 16% in Québec).
"Given the significant positive economic impact of foreign film
productions, including on Quebec's
trade balance, and the cultural importance of having a vibrant film
and video production industry to provide work for our creative
talents, actors, technicians and other workers, there is an urgent
need for action. We can't just sit on our hands while our Canadian
and foreign competitors eat our lunch. On the eve of the elections,
we are therefore calling on all the parties to do for the film
production industry what has been done for the video game industry
and provide the necessary predictability by making a formal
commitment to maintaining the Film or Video Production Services Tax
Credit for the duration of their term of office," Mr. Péladeau
concluded.
About Quebecor
Quebecor, a Canadian leader in
telecommunications, entertainment, news media and culture, is one
of the best-performing integrated communications companies in the
industry. Driven by their determination to deliver the best
possible customer experience, all of Quebecor's subsidiaries and
brands are differentiated by their high-quality, multiplatform,
convergent products and services.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than
10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly
committed to the community. Every year, it actively supports more
than 400 organizations in the vital fields of culture, health,
education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
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SOURCE Quebecor