TIGA: Texas shows the way on tax incentives
TIGA has highlighted the grand old state of Texas as a shining example of what can be achieved with tax incentives for the games industry.
Texas's grant system, the Texas Moving Image Industry Incentive Program, which provides additional funding for the games industry has managed to create an impressive 1700 jobs between April 2009 and August 2010. It provides a compelling argument for what tax breaks could achieve for the British games industry.
TIGA CEO Dr Richard Wilson said: "This report demonstrates once again that many governments around the world recognise the economic potential of the video games sector and its ability to create highly skilled jobs. Texas is now one of more than 20 states within the USA offering incentives for video game production and development."
He continued: "The UK Governments failure to support the video games sector in the face of mounting evidence is incongruous. If the right tax incentives are introduced then the games industry can create the private sector jobs that the Government claims it wants to encourage. TIGAs proposed Games Tax Relief would create or save 3,550 jobs, generate 457 million GBP in investment and increase and protect 415 million GBP in new and saved tax receipts. The Government must reconsider the case for Games Tax Relief."
The UK Chancellor of the Excehquer, George Osborne, has ruled out tax incentives for the UK games industry until the next general election which could be up to five years away.