There were some new technology initiatives in recently announced 2010 British Columbia Budget. The British Columbians government recently announced an Iterative Digital Media Tax Credit. I am assuming this credit will be similar in nature to the credits in place in Ontario and Quebec. Quebec was the first with this credit and Ontario largely followed Quebec’s example.
Through Braithwaite Technology Consultants Inc. I have gained a lot of experience with this credit in Ontario and Quebec. My advice to British Columbia based Digital Media Companies would be to start to design systems to capture the appropriate activities and costs from the budget date. My advice to the British Columbians government is to take the cost of compliance into account. Do not make it so expensive and onerous that only the largest companies can benefit from this credit.
The British Columbian Government also announced that they may use some of the 2010 Sports and Arts Legacy to enhance opportunities for all British Columbians though participation in digital media. One of the programs they may fund might involves the development of new arts or cultural product idea “incubators” in digital media. They indicated that they intend to generate economic benefits by integrating creative ideas in education and business so that with the appropriate nurturing, ideas could become commercialized within a specified time frame. The programs under the Legacy are still under development and eligibility criteria will be finalized in the coming weeks.
The use of the funding is unclear, and Digital Media may not ultimately be included. However, now is the time to come forward with suggestions to the politicians as to how this money could be put to good use in Digital Media.
$100 million in new climate action and clean energy development funding was announced to ensure further commercial development of new, clean energy technologies.
I expect a lot of activity in the Digital Media and Clean Energy industries as a result of this new funding.
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