BC Offers 17.5% Tax Break
Quebec Offers 37.5% Tax Break
Ontario Offers 40.0% Tax Break
An article in the Financial Post shows just how competetive and fluid the video game industry has become. In 2007 Vancouver employed 52% of Canada's video game professionals and Quebec employed 26%. As of last year BC has slid to employing 28% while Quebec has risen to 53%.
The article lists a number of companies that have either closed their BC operation completely or have shed considerable jobs, all told some 5,000 jobs have been lost in the industry. This loss is being blamed on the competition from other provinces who are able to attract these very portable companies.
In order to attract these desirable jobs, you have to wonder just how low provinces are willing to go and how much the net benefit is to the province after you offer a 40% tax incentive. If the taxes collected on the big paycheques is that desirable, then why not entertain eliminating corporate taxes all together and become the mecca for all forms of industry?
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