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In a post-Covid economy creating new jobs will be crucial in Ireland; a good place to start would be the Gaming sector where government funding is long overdue
Since the introduction of the Section 481 tax relief scheme in 1997, direct employment in the Irish Film and TV sector grew from 1,000 to 12,000 between 1997 and 2019. The industry now employs more than Google and Facebook combined.
It is estimated that for every euro spent on Section 481 outlays, approximately €3.50 is generated as a net benefit to the economy. A PWC report for Screen Ireland in 2020 shows that S481 payments totalled €41.52m, with €144.35m earned for the exchequer in the form of income taxes and VAT. Such figures represent over 3:1 return on investment and as such, the audio visual sector is now worth over €1 billion to the wider economy.
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