Film tax credit enhancement good news for Cochrane
(cochranenow.com)
Enhancements to the Alberta Film and Television Tax Credit are expected to attract more medium and big-budget productions to the province, and that’s good news for the Cochrane area.
To build on the success of a tax credit program launched in January 2020, the Alberta government has removed the $10-million per project cap in hopes of making the province an even more desirable location for larger film productions.
Jobs, Economy, and Innovation minister Doug Schweitzer says the change also creates more flexibility for the province to respond to future growth in this sector and to encourage the development of production studios here in Alberta.
Natalie Germann, the community event administrator, leads the town’s film initiative. She believes it’s a positive addition to existing incentives for coming here.
“We already have some great incentives. We are, in fact, a province that doesn’t have a sales tax, We have all this beautiful scenery. Calgary has some very experienced people, and they also have the Calgary Film Centre, which is there really to help production companies get things done.”
“Any additional incentives we can add will always be helpful. This is moving the right direction.”
The Cochrane area continues to be an attractive location for large and small productions alike, and the town is ready to assist all of them.
Germann says the town was proactive even before the announcement of the tax incentives.
“We’ve been working really, really hard to build those relationships so that we’re always front of mind when they’re looking for a location. We have a really simple permit process that’s not incredibly expensive. We try to be as friendly as possible, so when they come to town, we’re always here to help.”
At the beginning of the pandemic, the town launched a webpage called Watch Cochrane that lists several of the films shot here. It also includes appropriate links to related sites.
“Our goal there was to stay front of mind of those companies so that when things started opening up again they would remember us and come back here first. I can tell you that that definitely worked because I know that at least two companies got their first revenue from production companies when things started opening up again.”
“That’s huge, and that’s what we want to see going forward.”
Germann says they have had some meetings with production companies looking for locations this summer and hope they may come to fruition.
She’s a strong advocate of attracting film production here to further diversify our economy.
“When Tin Star came to town a couple of years ago, we know their direct spend in the area was over a half-million dollars. We know that when Let Him Go came to the area, that direct spend was $353,000.”
She says Luke Azevedo, commissioner of Film, Television & Creative Industries, Calgary Economic Development, believes this area could see around $750 million in film production spending in the next five to seven years.
By: Noel Edey
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