Mar 10, 2021
The Association of Book Publishers of BC thanks the Government of BC for its renewed support of the British Columbia Book Publishing Tax Credit. In an announcement today, the Hon. Selina Robinson, Minister of Finance, extended the credit for five years, until the end of March 2026.
The BC Book Publishing Tax Credit is a critical infrastructural support that ensures BC’s 30+ book publishers can remain strong competitors in a challenging and changed marketplace. Since the start of the COVID-19 pandemic March 2020, BC publishers have experienced market disruptions and reduced sales revenues, challenging their ability to invest in new authors and plan future book projects. A five-year renewal of the BC Book Publishing Tax Credit supports the industry’s longer-term recovery, offering predictable cash flow for publishers to rebuild capacity and continue to adapt their businesses.
Andrew Wooldridge, Vice-President of the ABPBC and Publisher of Orca Book Publishers (Victoria, BC), said, “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. 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 BC stories. We applaud the Province on this decision.”
We thank the Province for recognizing the economic and cultural contributions of BC’s book publishers, and the role they will play in our province’s recovery.
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Link to the Government of BC announcement: https://news.gov.bc.ca/releases/2021FIN0020-000432 For the media: Heidi Waechtler, Executive Director, Association of Book Publishers of British Columbia heidi[at]books.bc.ca 604-684-0228 About the ABPBC: Founded in 1974, the Association of Book Publishers of British Columbia (ABPBC) represents 30 BC-owned companies. The ABPBC supports the aspirations and activities of its membership through cultural, economic, and political initiatives and engages book-related communities in British Columbia, Canada, and beyond. booksbc.andstonesdev.ca