Ontario remains committed to the development of digital media in the province. It has provided ongoing support to the Emerging Technologies Fund and initiatives aimed at fostering a strong business environment for the Entertainment and Creative Cluster.
Recent studies (including the Canadian Interactive Alliances report “New Directions in the Financing of Digital Media”) have noted that Canadian companies excel in creative and technological development but find it difficult to capitalize on their efforts. Firms that create digital media products and services have struggled to get the financial resources they need for growth.
To help companies develop digital media products, Ontario offers the Ontario Interactive Digital Media Tax Credit (OIDMTC) – a refundable tax credit. This Tax memo discusses in detail how the OIDMTC program works.