BC Publishers Welcome the Extension of the Book Publishing Tax Credit in the British Columbia Budget 2012

February 21st, 2012

At a time of enormous upheaval and uncertainty in the book industry, the Liberal government has provided one measure of stability for 23 BC owned- and controlled- publishing companies. Today’s budget confirms the renewal of the Book Publishing Tax Credit for five more years, news that will allow the province’s creative industry to continue to innovate and thrive in this transformative era.

“The BPTC has allowed the book industry in British Columbia to compete with our colleagues in other jurisdictions, grow and diversify our companies, provide jobs, and undertake the important work of reflecting who we are as Canadians and British Columbians through the books we produce,” stated Association of Book Publishers of BC President Robert Ballantyne. “This is good news for British Columbians.”

The BPTC was first introduced in 2003 to stabilize the book publishing industry in BC and allow it to become more competitive. In the intervening years increased concentration in book retailing and the loss of so many independents, has created an enormously challenging retail environment for book publishers. Despite this handicap, the BPTC contributed to growth in the industry as BC publishers consolidated and found new markets at home and abroad. Recently, the development of a range of e-reading devices at affordable prices has led to more positive transformation in the industry. BC publishers, assisted by the Province’s investment, were some of the first out of the gate in Canada creating eBooks for e-retailers and libraries.

BC book publishers produce over 1,500 titles a year, most of them by BC authors. The largest English-language, Canadian-owned trade publisher in the country, D & M Publishers Inc, is based here and BC publishers are known around the world for the quality of their books in all genres including children’s, aboriginal, educational, scholarly, literary and self-help books. Recently a book from BC publisher Douglas & McIntyre won CBC’s Canada Reads with Something Fierce: Memoirs of a Revolutionary Daughter by Carmen Aguirre and BC’s Greystone Books/David Suzuki Foundation won the BC National Award for Canadian Non-Fiction for Eating Dirt: Deep Forests, Big Timber, and Life with the Tree-Planting Tribe by Charlotte Gill.

At a time of restraint, BC publishers are pleased that this government recognizes the economic, educational and cultural value of books in the lives of the province’s citizens and communities.