€8.6m reeled in by film and TV
THE FILM and TV production industry has reeled in revenues of €8.6m for the exchequer.
There were 261 film, cartoon and television productions completed in the country last year, with a total production value of €387.9m. Business lobby group IBEC's representative group, The Audiovisual Federation, said that this level is more than double the 2009 level and €20.9m greater than projected.
Expenditure on Irish goods and services, the key driver for domestic employment and income, amounted to €204.7m, according to the new report. In 2010, the sector provided 1,695 full-time equivalent jobs.
"2010 has been a record year for the Irish film and television industry, a sector that continues to make a significant contribution to the Irish economy," said Kevin Moriarty (above), managing director of Ardmore Studios and chairman of The Audiovisual Federation committee.
In competing for and attracting mobile investment to Ireland, the sector generated economic activity and made a contribution of €170.8m to the exchequer.
The films generated €70.3m in taxes which were paid over to the exchequer, but received investments from taxpayers worth €61.7m in lost tax revenue, using a tax break known as 481.