Yesterday the Ontario government released its 2009 budget which included significant improvements to the province’s competitive edge in the interactive media marketplace. Through a series of improvements to the Ontario Interactive Digital Media Tax Credit (OIDMTC) and a boost to the Ontario Media Development Corporation (OMDC), Ontario now offers some of the most competitive production and development environments for the creation of interactive media products and services anywhere in the world.
This budget is proposing about $100 million annually in additional tax relief and investments of about $30 million to support the entertainment and creative cluster.
“This budget can leave no doubt that Ontario is very serious about its digital future,” said Ian Kelso, President & CEO, Interactive Ontario. “It is a tremendous boost to our competitive edge, and I have no doubt the world will take notice.”
The Interactive media industry is comprised of companies working on emerging and developing platforms such as video game consoles, the web and mobile phones. There are currently about 700 companies working in the interactive media industry in Ontario.