Have you really, really heard...
... about Our Dear Equity Investment? The Comms Shop continues its due diligence in
Budget 2009: Building on Our Strong Foundation provided $1.5 million in film equity funding to Republic of Doyle. The size of the production will also enable producers to avail of up to $3 million through the Newfoundland and Labrador Film and Video Tax Credit. The value of economic spin-off resulting from the production is estimated at about $11 million.Mkay... $4.5 million in direct and indirect provincial public support, to generate "about $11 million" in economic activity?
How much provincial public revenue is that "about $11 million" generating, a body might wonder? Is it greater or lesser than $4.5-million?
And what's this now:
In the past six years, from 2004 to 2009, the Government of Newfoundland and Labrador has invested more than $24 million to film production activity which, in turn, has enabled approximately $67 million to be leveraged from other public and private sources.That is to say... more than a quarter of the money going into the industry is from the provincial public treasury. And, of the 74% that is not provincial public money, a curiously vague amount ("leveraged from other public... sources") is also from the public purse of other, unspecified, jurisdictions.
Oh, look! A pie chart!
Labels: culture vultures
1 Comments:
Fun exercise:
Get 20 people to stand in a circle.
Everyone writes a cheque, or hands over cash, in the amount of $100 to the person standing to their left.
Everyone receives a cheque, or cash, in the amount of $100 from the person on their right.
Everyone leaves the circle have gained or lost nothing, but with the smug satisfaction that they patriotically generated $2000 in "economic activity".
With that in mind, can we all please stop using the "generated economic activity" line. It's a completely meaningless measure of anything.
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