The video production production industry is facing a potential $1 billion payout after the government’s recent announcement of a new incentive scheme to support video production businesses.
The government announced the incentive scheme Wednesday.
Industry Minister Paul Dewar said the incentive is part of the Government of Canada’s commitment to encourage small businesses to be part of our economy.
“Video production is a key part of that economy,” Dewar told CBC News.
“We will continue with our strategy to support the small business sector, and this is just one of the steps that we will be taking to continue to create jobs.” “
The new incentives are part of a $1-billion package that will provide incentives for businesses in the video production sector to expand their operations. “
We will continue with our strategy to support the small business sector, and this is just one of the steps that we will be taking to continue to create jobs.”
The new incentives are part of a $1-billion package that will provide incentives for businesses in the video production sector to expand their operations.
Dewar says the Government will continue its strategy of supporting the video industry by creating jobs, strengthening Alberta’s small business economy, and supporting those who need it most.
The incentives will be available to small businesses up to a maximum of $1 million, up from the existing $500,000 per business.
Companies that have been in business for more than five years can apply for a maximum $100,000 incentive.
To qualify, the business must have three or more employees, be located in the Calgary area and have at least three employees in the production or distribution of film, video, audio or a combination of both.
In order to receive the incentives, businesses must have at most $500 in total production and distribution revenues, plus an additional $1,000 in total payroll expenses.
Companies must also have at the minimum three employees to be eligible for the incentives.
Businesses can apply by sending in an application at the Business Office in Edmonton, Alberta.
They will also need to complete a financial statement and annual reports detailing all their business activities.
The Alberta Government will also create a small business support group that will be comprised of the heads of all the participating small businesses.
They must be from Calgary and must be located within the city limits of Edmonton.
A list of participating businesses can be found here.