ONTARIO’S SCREEN-BASED INDUSTRY: AN ECONOMIC PROFILE FOR 2018

ONTARIO’S SCREEN-BASED INDUSTRY: AN ECONOMIC PROFILE FOR 2018

 

Graphic: Nordicity

Production volume grew by 23% to $1.6 billion in direct spending from 2014 to 2017, creating 32,740 jobs and contributing $2.3 billion to GDP.

Every $1 million spent on tax credits creates:

  • 109 direct and spin-off FTEs 
  • $7.4 million in provincial GDP 

 

 

 

Graphic: Nordicity

In addition, for every $1 spent on tax credits $1.20 is received in provincial and municipal taxes and fees (will grow to $1.24 by 2022).

Industry is expected to grow by 5.4% annually to $2.1 billion by 2022, supporting 38,980 jobs and contributing $3.0 billion to GDP.

Comparisons with competitive jurisdictions demonstrate that tax credits have a direct impact on production spending in a jurisdiction:

  • Introducing or enhancing credits leads to higher production volume 
  • Removing or reducing credits leads to lower production volume 

 

Click here to view the Executive Summary.