B.C. extends tax credit for book publishers to 2026

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      A British Columbian cultural industry—and one whose workforce is comprised predominantly of women—will receive extended support from the provincial government during economic challenges created by the COVID-19 pandemic. 

      The provincial government announced on March 10 that it it is extending the book publishing tax credit that was originally slated to expire at the end of this month.

      The expiry date for the credit has been rescheduled to the end of March 2026.

      The credit supports approximately 30 book publishers based in B.C., and these publishers employ over 200 people.

      What set this industry apart from other industries supported by tax credits like mining or shipbuilding is that about 70 percent of those working in book publishing are women. 

      B.C. Finance Minister Selina Robinson explained in a news release that supporting this industry particularly during the pandemic is particularly important because “women are one of the groups at risk of long-term economic insecurity as a result of the pandemic”.

      B.C. parliamentary secretary for gender equity Grace Lore also pointed out the disproportionate impact that the pandemic had had upon women.

      "We know women have shouldered a disproportionate burden throughout the pandemic and our recovery must be rooted in equity," Lore stated in a news release.

      The Association of Book Publishers of B.C. (ABPBC) expressed thanks for the credit extension.

      “The renewal of the BC Book Publishing Credit is welcome news, both for the long-term stability of the industry and for these particularly challenging times,”ABPBC vice-president and Orca Book Publishers Andrew Wooldridge stated in a news release. “Post-pandemic this investment will contribute to the growth and financial stability of the industry and will allow publishers to retain staff, to innovate, and to tell B.C. stories.”

      The ABPBC explained that the pandemic has caused market disruptions and reduced sales revenues for book publishers, which has thereupon challenged their ability to invest in new authors and plan future book projects.

      More information about the B.C. book publisher tax credit can be found at the B.C. government website.

      Among the titles on the list of current B.C. bestsellers are Francesca Ekwuyasi’s Butter Honey Pig Bread, which was included as a finalist in CBC's 2021 Canada Reads book competition; Eve Lazarus’ Vancouver Exposed, about the city’s hidden secrets; and Cheryl Alexander’s Takaya: Lone Wolf, about a famous lone wolf who lived on an island near Victoria but was found shot and killed in March 2020.

      You can follow Craig Takeuchi on Twitter at @cinecraig or on Facebook.

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