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Carlow Nationalist — Ireland s largest movie studios sold to US joint venture
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Roscommon Herald — Ireland s largest movie studios sold to US joint venture
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Limerick s Troy Studios sold to leading US consortium in multi-million euro deal
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Updated / Thursday, 29 Apr 2021
06:00
Elaine Geraghty, CEO, Ardmore and Troy Studios
The Irish audio-visual industry contributed almost half a billion euro to Irish economy in 2019, according to a new PwC report.
The report highlights how film, TV and animation productions, supported by the section 481 tax credit scheme, delivered over €469 million in total economic contribution to Ireland during the year.
The report states that this represents a return on investment of €3.80 for every €1.
The report also reveals that there were 124 productions supported by the section 481 scheme in 2019, which enabled the employment of 16,952 full time positions.
The PwC report was commissioned by Ardmore Studios and Troy Studios, with the support of Animation Ireland and Screen Producers Ireland.
29 Apr 2021 : Nathan Griffin Ardmore Studios and Troy Studios CEO Elaine Geraghty Troy Studios and Ardmore Studios CEO Elaine Geraghty believes that the upper limit of 70 million on the Irish Section 481 tax incentive is acting as a barrier to Ireland securing large-scale international productions.
This comes following the publication of a new PwC Report, commissioned by Ardmore Studios and Troy Studios, which highlights how the Section 481 tax credit underpins the success of the screen sector.
The report reveals how Film, TV and Animation productions supported by the Section 481 tax credit scheme delivered over €469 million in total economic contribution to Ireland in 2019. This figure is estimated to represent a return on investment of €3.80 for every €1.