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B.C. film productions set to take off after poor 2002.

January 16th, 2003

For the first time since 1999 the total TV and Film production in British Columbia, Canada is not expected to reach $1 billion. The estimated $900 million is the second yearly decline after $1.1 billion was spent in 2001 and a record $1.2 billion was spent in 2000. This loss in spending could be explained by three factors. Firstly, terrorist attacks and a weak stock market have made executives in the US Entertainment industry very wary of taking any risks. And secondly, loss of Federal tax incentives reduced Canada’s competitive edge. And lastly, increased competition from other foreign locations like New Zealand.

There is good news in for Hollywood Northwest. While the overall numbers were down, the feature film sector was still strong, and this trend should continue into 2003. In the next few months shooting will begin on several major blockbusters, including John Woo’s Payback with Ben Affleck, the adaptation of Isaac Asimov’s I, Robot with Will Smith, and Pitch Black sequel The Chronicles Of Riddick with Vin Diesel.

The good for continues as B.C. is still an attractive place for TV and Film, with its experienced crews, well-developed infrastructure, excellent film and animation schools, and the low Canadian dollar should all attract new productions for years to come.

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Source: Yahoo