Bernard J. Durkan
Ceist:255 Mr. Durkan asked the Minister for Arts, Heritage Gaeltacht and the Islands the number of new film projects which she has encouraged or proposes to encourage; and if she will make a statement on the matter. [20746/01]
Vol. 540 No. 3
255 Mr. Durkan asked the Minister for Arts, Heritage Gaeltacht and the Islands the number of new film projects which she has encouraged or proposes to encourage; and if she will make a statement on the matter. [20746/01]
My Department is responsible for the certification of film projects under section 481 of the Taxes Consolidation Act, 1997, formerly section 35 of the Finance Act 1987, as amended.
Since taking office, I have on a number of occasions visited Los Angeles to meet the senior executives in the American film industry to promote Ireland as a location for film production. These visits have raised the profile of Ireland as such a location with the major film companies. US investment in the Irish film industry since 1997 has involved a spend in Ireland of more than £110 million. Most recently, I have visited the Cannes film festival with the same objective.
Since July 1997, 127 film projects have been certified under the section 481 scheme to date, and seven applications are currently under consideration.
Following on the report of the film industry strategic review group, significant initiatives have been put in place to revitalise and strategically re-orientate this important area of the economy. These include the consolidation and unprecedented extension of the section 481 tax relief for investors in the industry, which will now run until April 2005.
The Irish Film Board (Amendment) Act, 2000, which had the effect of raising the overall limit of expenditure which may be incurred by the board in production and development funds, from £30 million to £80 million, was signed into law in December last.