Effective Sept. 1, B.C.’s interactive digital media tax credit program will increase to 25 per cent from 17.5 per cent and will effectively become permanent.

This is the highest tax credit the province’s video game industry has ever received, said Loc Dao, executive director of DigiBC, a non-profit creative technology industry association. He added that the changes—which were announced in the latest provincial budget—signal faith in the sector’s ability to help grow the economy and create jobs.

According to Dao, the program allows studios in the video game, virtual reality and augmented reality industries to claim a credit on the production of interactive products.

“[It] will make a huge difference for our small B.C. businesses that, like for every business right now, it’s not the easiest time,” he said. “We know that by itself, it isn’t going to be enough for small businesses, so we’re immediately starting work on how we can help them raise capital.”

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