VICTORIA -- The British Columbia government says it is extending a tax credit to the book publishing industry that was worth more than $2.5 million last year.
The publishing credit, which was due to expire at the end of this month, will remain in place until the end of March 2026, the province announced Wednesday.
The program is designed to increase the competitiveness of B.C. book publishers, especially as they struggle amid the COVID-19 pandemic.
The province says the program supports approximately 30 B.C.-based publishers and 200 jobs that are primarily filled by women.
Women make up 70 per cent of the publishing industry’s workforce, setting it apart from other industries already supported tax credits, including film, mining and shipbuilding, the province said.
“We know that women are one of the groups at risk of long-term economic insecurity as a result of the pandemic,” said B.C. Finance Minister Selina Robinson in a statement. “It is vital to B.C.’s economic recovery that they are supported by government and given the best possible opportunity to move forward.”
More information on how to apply for the tax credit is available here.
