LONDON — The U.K. government will give the British Film Commission an extra £400,000 ($628,000) over the next two years to help attract more film and TV shoots to the country.
The funding is part of a new strategic partnership between the BFC and U.K. Trade and Investment, the government department responsible for international business development.
It was announced by U.K. Film Minister Ed Vaizey at a summit meeting in London Tuesday to promote the U.K.’s creative industries, which is part of the government’s drive to ensure a strong business legacy from the Olympics.
The new funding aims to help the BFC maximize the impact of the proposed new tax credit for high-end TV drama production, due to be introduced next April, subject to EU approval.
It will also enable the BFC to use UKTI’s resources to achieve a greater presence in emerging markets.
BFC CEO Adrian Wootton said, “We have seen huge investment from the U.S. studios, which is in part thanks to the BFC having a dedicated team working directly with producers and decision-makers in North America. This partnership will allow us to extend that remit, driving new investment in the U.K.”
“We are delighted to be working with UKTI to exploit that, grow our commercial activity and forge new networks in the emerging markets.”
“With the world’s spotlight on the U.K. this summer we are working hard through the British Business Embassy program to enable companies to capitalize on the unique opportunity we have in 2012 to secure new trade and investment,” said trade and investment minister Stephen Green.