An independent new report published today demonstrates the huge value of the governments tax relief across the UK’s screen industries, seeding unprecedented levels of production, creating thousands of jobs, growing businesses and infrastructure, generating record levels of inward investment, boosting exports of UK productions and services internationally and creating spill over benefits for other industries.
UK made productions generated £7.9 billion as the screen sectors overall economic contribution. The report reveals that an estimated £632 million in tax relief seeded £3.16 billion in direct production in 2016, a 17% increase on 2015. The UK’s screen industry is flourishing but the North East is significantly under developed.
“The TV and Film sector in the North East is currently one of the smallest in the UK. We are not getting our fair share and we have huge potential for growth. NFM is currently developing plans to move our regions screen industry from surviving to thriving. Inward investment and attracting more productions to the North East is central to growing activity, generating more and higher quality job opportunities and enhancing sustainable impact” John Tulip NFM’s Manager Director
More information on the report can be found here