TORONTO – A new report highlights how the Canadian Film Centre (CFC) and its alumni are generating millions of dollars in economic benefits to Ontario's Economy. In total, the CFC generated $98.0 million in incremental household income for Ontario residents and $114.7 million in GDP for the Ontario economy.
The figures come from Nordicity in a report commissioned by the Ontario Ministry of Tourism, Culture and Sport (MTCS) and CFC to measure the economic impact of CFC graduates since 2005-06 – the first year of MTCS support.
Study of the Economic Impacts of the Canadian Film Centre represents the first time an economic analysis of CFC graduates has been assessed, and provides a baseline for future studies.
"We are delighted that the results of this report validate Ontario's investment in CFC in terms of the Government of Ontario's objective to create jobs, develop new skilled-workers and build the capacity of the creative cluster in Ontario," said Slawko Klymkiw, CFC's Chief Executive Officer.
Approaching its 25th anniversary, CFC is a leader in developing Canada's creative and entrepreneurial talent in the screen-based industries sector. Many of the CFC's more than 1,500 graduates have gone on to key positions in making innovative, ground-breaking content; winning national and international accolades for their work.
Key Findings:
• Between 2006 and 2012: 577 graduates earned a cumulative income differential of $34.9 million; and this income differential created $41.5 million in GDP for the Ontario economy.
• Since 2006: 137 CFC graduates have established media companies in Ontario. Following their CFC training, these graduates increased their film and TV production output by a total of 53 projects. These 53 projects translated into $80 million in production volume (i.e. budgets) and attracted $47 million in financing from outside the province.
• Between 2006 and 2012, the CFC generated $98 million in incremental household income for Ontario residents and $114.7 million in GDP for the Ontario economy; and this activity created 2,000 full-time equivalent jobs within the Ontario economy; and produced an estimated $19.8 million in tax revenue for the Ontario government.
