SUCCESSFUL YEAR FOR IRISH FILM INDUSTRY

THE MINISTER for Arts, Heritage & Islands, Sile deValera has declared this year as another successful one for the Irish film industry.
The Minister said: “I am encouraged by the high level of production activity this year. A rich and diverse array of indigenous productions is taking place, which reflects the vibrancy of the increasingly capable and self-confident indigenous film sector.
“To date 14 film projects have been certified and a further seven applications are with my department. The cumulative budget of projects certified to date is £66.7 million. This figure rises to £118.48 million when the applications on hand are included. The spend in Ireland for all of these projects comes to £60.85 million, already exceeding the full year figure for 1999 of 56.7 million.”
Minister deValera also announced two important developments for the Irish Film industry.
Firstly, the European Convention on Cinematographic Co-Production will come into effect in Ireland this month following the ratification of this convention.
Secondly, a Ministerial Order has been signed to bring into effect increases in the amounts that may be raised by producers under the Section 481 Tax Scheme, for investment in film production.
This follows the approval of the Scheme by the European Commission under the EU State aids rule.