The Government of Quebec has announced the creation of a new plan that will provide $50M in funding per year until 2023-24 to support the stability of the print media sector.
The plan will include the following support measures:
- A new 35% reimbursable tax credit representing up to $75k of an employee’s annual salary to support newsroom staff;
- A one-year extension, until Dec. 31, 2023, of the tax credit supporting the digital transformation of the print sector;
- A two-year extension, until 2023-24, of programs offered by Culture et Communications Québec that support the print sector;
- and added support for RecycleMédias to eliminate the financial compensation print companies previously gave to municipalities for recycling.