WITH hundreds of jobs set to be created in Limerick through the filming of a new TV series at the Troy Studios, calls have been made to retain the special film tax incentive in the upcoming budget.
The Audiovisual Federation which represents the interests of the industry has asked that Government extend the Section 481 film tax incentive beyond 2020.
Federation Director Torlach Denihan said: “It is essential that the Minister for Finance confirms the extension of the Section 481 film tax incentive in its current form beyond 2020 in the upcoming budget, in order to allow for film and television productions to plan accordingly.
Last month, it emerged that NBC Universal has commissioned a pilot series of ‘NightFlyers’ to be shot at the Limerick venue and if successful could keep the Troy Studios in the spotlight for a number of years employing upwards of 500.
The industry now employs 7,000 people in Ireland, with a multiplier of 15,000 indirect jobs across the country.
Last year the industry attracted €150 million in inward investment, firmly placing the audiovisual sector as a net positive contributor to the Irish economy.
The federation has called for €5 million to be ring-fenced in an annual development fund for all film and television genres; that effective measures be adopted to combat television licence fee evasion; that an inter-agency taskforce on digital piracy be established.
Mr Denihan added that these measures, if adopted, “will help make Ireland a global leader in the audiovisual sector and will act as a catalyst to the work of the Government’s ‘Creative Ireland ‘ policy initiative.”
See more Limerick news here
