The Ontario Film & Television Tax Credit is a key reason Hollywood shoots movies in Toronto as often as they do; and something that Windsor can capitalize on to draw new industry.
The OFTTC is a refundable tax credit for Ontario labour expenses from a qualifying production company with respect to an eligible Ontario based production.
The credit refunds 35% of eligible Ontario labour expenses.
The OFTTC has drawn several leading Hollywood productions to the GTA already: Pacific Rim and Suicide Squad to name but a small few.
The cities local economy gets a boost in several ways. Prop and wardrobe rental companies as well as other specialized equipment distributers pop up to meet the technical needs of a production -employing local workers. Restaurants, bars, boutique retailers, hotels, and every other up and coming retail all sustain a boost via outsider spending while productions’ cast and crew are in town. Film crews go out on location and local attractions can reap rental fees and high profile exposure. For a city coming into its own in the tourism industry drawing the film industry here could have cosmic possibilities.
Take a leap of faith and try your next production here in Windsor – first time producers are eligible for an even higher 40% of their first $240 000 qualifying labour expense. A nice incentive for the beginner risk taking filmmaker in any young entrepreneur.
Why come to Windsor instead of an established location like Toronto? An additional 10% is available to qualifying productions with at least 85% of the location days outside of Toronto. A first time producer can be eligible for 50% tax credit under this framework.
Windsor, the movies are calling us.
For more please see: http://www.omdc.on.ca/film_and_tv/tax_credits/ofttc.htm
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