TORONTO – Ontario’s film and television industry haid ts best year ever in 2011 after contributing $1.26 billion to the provincial economy, a 31% ($300 million) jump over its 2010 figures, the Ontario Media Development Corporation said Tuesday.
The increase was led by domestic spending which accounted for $852.1 million in total, a 32% increase over last year’s figure of $646.2 million. Foreign spending was up 30% to $412.9 million from $318.1 million in 2010.
OMDC president and CEO Karen Thorne-Stone noted that the rise came despite the continued strength of the Canadian dollar, aggressive competition from other jurisdictions, and a soft global economy.
“We are delighted by the outstanding performance of the film and television industry”, she said in a statement. “It is a testimonial to the fact that Ontario offers a ‘total package’ of incentives to attract foreign and domestic productions, including: the right mix of government support, stable and competitive financial incentives, world-class infrastructure, superb talent and skills and diverse locations.”
The $1.26 billion in production activity accounted for almost 30,000 full-time direct and spin-off jobs. It was the industry's strongest performance since 2000 ($1.01 billion) and the highest since the agency started keeping records in 1986.
