High Canadian Dollar Threatens Movie Biz

Is Governor Schwarzenegger going to try to stop Hollywood films from fleeing to Canada to shoot? Maybe. Maybe not. But “the biggest issue impacting runaway production is the high Canadian dollar. Five years ago, I could count on an increase in my budget of 30-per-cent shooting in Canada. Now, because of the dollar, you may get 10 per cent to 15 per cent, if you’re lucky. The gap is narrowing and the payoff for us coming up there is getting increasingly slim.”