Halifax Film Tax Credit Safe

A non-story scare. I was worried the government was going to do away with the provincial film/tv tax credit before I sold my show idea to Halifax Film, but Lenore Zann reports that Graham Steel is not contemplating doing away with the Tax Credit That would be a disaster for the industry in Nova Scotia and yours truly who holds 1000 shares of DHX which is THE industry in Nova Scotia.

As always my editor tonight is Lunchmeat Harold (ed. Howdy)

When you think about the $22 Million spent on the film/tv tax credit last year it's a drop in the bucket (ed. compared to the hunt for wmd. Sorry NS, about there not being enough hospital beds.)

Ahem! Still there are naysayers, (I'm looking at you Harold) and the gov't of the day says "In a perfect world we would find a way to make this industry grow so its not totally dependant on the tax credit."

Okay, scary stuff I know but he's talking about a perfect world, not Nova Scotia.

In other news DHX aka Halifax Films announced that they received $1.5M from a hedge fund firm as an investment (ed. aren't those the companies in the states that caused - )

Anyway, according to David Regan at Halifax Film this will add to their already liquid position (ed. should I be getting turned on?) and they will start looking for other kids TV production companies to take over. (ed. Does this sound like someone's putting a big fat carrot into a wabbit trap? Didn't Michael Donovan want to quit last year?)

I'm glad to hear they are looking to grow because I don't hear a lot of producing going on. Since they raised $70M in an IPO, another million from Nova Scotia Business Inc (ed. gov't money to hire N.S. i.e. Ontario kids) and used FilmNS and tax Credits to fund everyday expenses and salaries, I was worried they were not going to "make" money. But the fact that a hedge fund firm invests money with you when you don't have a clear forecast of a profit happening soon, causes share prices to go up. (ed. didn't it make them money too? Do they have to announce when they sell shares?)

I'm was worried because I don't hear a lot of producing going on. (ed. Why would they produce?)

I guess you're right there. Any producing going on will be like the spelling bee thing (ed. $250,000 from FilmNS? The kids got pens as prizes!) will cover
day to day expenses. Now we're just dealing and wheeling and speculating.

Of course I was a little put out by the fact that the NS taxpayer funded DHX had it's general meeting in toronto last fall (ed. you can't leave the apartment anyway) but still Michael Donovan says he likes living here and dagnabbit so do I!

(ed. why wouldn't he like living here? He earns his living from Nova Scotia.)