Vienna (OTS) – With the implementation of an incentive model for the Austrian film industry, the federal government is taking a single step towards making Austria more attractive as a film location. “The international film industry is strongly influenced by globalization and competition. Numerous countries in Europe are already strategically using incentive models for the film industry in order, among other things, to increase added value in their own country, attract investments and create jobs. Austria has been falling behind here for years and is no longer up to date. It is all the more important that Austria finally follows suit and introduces an effective, modern funding instrument for the audiovisual sector,” said WB Secretary General and Abg. e.g. NO. Kurt Egger.

The new incentive model provides for specific regulations to increase the competitiveness and attractiveness of Austria as a film location. This includes a non-repayable subsidy of 35 percent of the expenditure reported in Austria in the context of film productions, 5 percent of which is for the consideration of climate-friendly criteria. International audiovisual productions of any length from the fields of cinema, television and streaming, as well as national cinema, television and streaming productions co-produced with international partners, are to be favored. The incentive model is not limited in time and has no budgetary cap. It comes into force on January 1st, 2023.

“As an international art and culture country, Austria must also have the necessary instruments in such a key growth area of ​​the cultural and creative industries in order to be able to develop and maintain expertise and infrastructure. Austria must become an attractive location for the international film and media industry. A modern incentive model for filmmakers ensures that we keep the added value in our country and can do justice to our reputation as a state of art and culture in the 21st century. As an economic association, we therefore expressly welcome the implementation of the tax incentive model for the Austrian film industry,” Kurt Egger concludes.

Questions & contact:

Austrian Economic Association
Valentin Petritsch, MSc
Spokesman & Head of Communications
+43 1 505 47 96 17
https://twitter.com/vpetritsch
http://www.wirtschaftsbund.at