As Sector Council lead for Information, Communication, and Digital Technologies, and the Industry Association representing IDM companies in Manitoba, NMM plays a critical role in providing advisory services to our members. Two key aspects of our advisory work involves assisting IDM companies to access capital, and securing provincial tax credits to fuel growth in the local industry.
Access to Capital
A key hurdle in expanding a business into new markets is access to capital. To address this challenge, NMM will assist member companies to participate in strategic trade missions where they can pitch to a critical mass of investors.
NMM has brokered connections between members and private lending institutions in Canada to assist them in accessing working capital so they can fund their expansion plans.
Manitoba Interactive Digital Media Tax Credit (MIDMTC)
One of the key pillars in the support of the IDM sector is the Manitoba Interactive Digital Media Tax Credit program (MIDMTC), a fully refundable corporate tax credit with two rates:35% of eligible labour costs for companies not primarily based in Manitoba but who pay at least $1 million over a single corporate tax year to employees in a Manitoba-based studio, and 40% of eligible labour costs associated with the development of an eligible IDM product for qualifying Manitoba-based companies.
Companies can use the tax credit to grow their teams, as working capital or reinvest the revenue into company development. Accordingly, the MIDMTC can help companies grow their businesses and leverage other sources of revenue. Currently, the tax credit is only applicable to a portion of the IDM industry.
NMM will continue working closely with industry to make the tax credit reflective of the full IDM industry, and that it continuously adapts to the evolving economic landscape.
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