TORONTO – Interactive Ontario (IO) is applauding the Ontario government for continuing to recognize the importance of the province’s interactive digital media (IDM) sector.
Responding to the provincial budget, IO said that it supports the government’s changes to the tax credit policies for Ontario’s creative industries that renews and increases the Interactive Digital Media Fund plus revises the eligibility for the Ontario Interactive Digital Media Tax Credit (OIDMTC).
"Ontario’s interactive digital media (IDM) sector has grown from a handful of companies, to an industry that now employs over 17000 FTEs, generates over $1 billion for the economy, and has made the province a world leader in IDM creation,” said Interactive Ontario executive director Christa Dickenson, in a statement. "The changes to the OIDMTC in today’s budget will ensure core Ontario IDM companies can continue to invest, hire more young people, and make Ontario a centre for innovation that can compete on the world stage."
The changes to the 90% rule in the OIDMTC will create better certainty and speed up processing of the credit, but unfortunately still maintain the barriers that prevent Ontario IDM companies from working together, the organization added.
Interactive Ontario is a member-driven not-for-profit trade association representing companies working in e-Learning, video games, mobile app development, online storytelling, transmedia, augmented reality and virtual reality and other forms of interactive digital media.
