By putting their money on the original principle of an interregional financing set-up, the partners of course hoped to generate the same kind of structuring impact in Brussels, much like what had been achieved the previous years in Wallonia. Particularly when it comes to actors, technicians and the whole talent pool in Brussels.
The bar was set high because the Wallimage system systematically generates an average of 300% audiovisual impact in comparision to the money invested in co-productions.
After four investment rounds, using up the money available for 2009 and committing half of the sum for 2010, one truth is emerging!
Not only is the goal reached, it has been literally shattered, thanks to the producers who adopted the new system from the start.
In one year, (from May 2009 to May 2010), the mixed fund Wallimage/Bruxellimage committed to the co-production of eightteen high-quality projects. Seventeen are features, one a documentary series. Twelve are Belgian initiatives, six are international co-productions coming here thanks to the combination of Wallimage/Bruxellimage and the Tax-Shelter. For the most part, the applications were sent in by production companies from Brussels, but two came to us from a Flemish company and two from a Walloon one. Five out of seventeen fiction films will be in Dutch.
At the end of May, eleven projects have signed an agreement and have already obtained part or the entirity of the investment committed, for a total sum of €788,000.
For a first working year, Wallimage/Bruxellimage made some excellent choices the general public will be able to appreciate at the Fiff in Namur and in cinemas starting on 6 October. But more than this ’artistic’ satisfaction, what is most impressive is the economic impact already registered and still to come in the Brussels Region.
For €1,500,500 invested, €6,921,997.94 were invested in the salary of natural persons, €3.723.343,79 in technical performances. A total of €10.011.410,61. The reinvestment rate is 667.2 % for Brussels-Capital only.
The impact in Wallonia for the investments of the mixed line are equally impressive. Considering the percentages, they are even doing slightly better than the classic Wallimage line.
€1,500,500were invested (complete parity with the Brussels Capital Region). €3,294,393.24 were invested in salary for natural persons and €3,627,606.70 in technical performances. In total, €6,921,997,94. This brings us to a reinvestment of 462,31% for the Walloon Region only.
A few financial analysts who were particularly sceptical during the Summer of 2009 are now eating crow. Bon Appetit!