Aid to the Audiovisual Industry for the Production of Cinematographic Works and Audiovisual Works in the Valencian Community, Spain

[Juanjo Camaleón Rental]

Aid to the Audiovisual Industry for the Production of Cinematographic Works and Audiovisual Works in the Valencian Community. SPAIN

Decree Law 5/2023 establishes the framework for audiovisual grants in the Valencian Community, aimed at boosting the industry through financing production and post-production projects. A total of 6.5 million euros is allocated to these grants, which are awarded through competitive competition to companies that meet specific requirements.

Object and Financing of Audiovisual Grants, Valencian Community. Spain

Decree Law 5/2023, of March 16, approved by the Consell de la Comunidad Valenciana (Council of the Valencian Community), establishes the regulatory framework for the granting of cinema and audiovisual grants and subsidies through a competitive procedure, with the aim of promoting and providing incentives to the audiovisual industry in the Valencian Community by financing production and post-production projects of audiovisual works, whether they are of Spanish or foreign nationality, including production and post-production expenses that take place in the Valencian territory.

The amount allocated for the financing of the grants amounts to 6,500,000 euros, distributed over three years: 2023, 2024, and 2025. In 2023, the expected amount is 2,500,000 euros, 3,500,000 euros for 2024, and the rest for 2025, all subject to the availability of sufficient credit to cover these amounts in the budget laws of each fiscal year.

This amount can reach up to 10,000,000 euros if the conditions established in Decree 77/2019, of June 7, of the Consell, which regulates the management of the budget of the Valencian Government, are met, subject to the availability of credit and prior budget modification before granting the subsidy. In cases of unforeseen increase due to credit availability that enables a complementary resolution to the granting of subsidies, applications that have met all the established requirements but were not initially granted due to the credit being exhausted may opt for such subsidy.

Audiovisual production grants are awarded as non-repayable funds and are announced annually on a multi-year basis, covering three budgetary years, financed according to the credits approved in the Budget Law of each year by the Generalitat. In each call, the amount of the grants and their distribution over the years are established, and the maximum amount of the grant will be limited to the financial needs of each project at the time of the application, in accordance with the financing plan submitted. When a project is funded by other grants, it cannot benefit from the grants awarded by the Valencian Community, although it may be eligible for a subsidy for the part not covered by the previously granted aid(s).

More here: https://www.camaleonrental.com/gb/blog/aid-cinema-audiovisual-works-valencia.html