A scheme to help develop the creative industry was launched by the Finance Minister this morning.

Launching the scheme “Create” at Galea’s Art Studio in Valletta, Mr Fenech said that those benefitting would be able to get 60 per cent tax credit or up to €25,000 of the costs towards the development of a business, intellectual property, the development of artistic work and translations.

In identified zones, which include Strait Street in Valletta and Collachio in Vittoriosa, businesses are also entitled to the recovery of rental costs on premises, facilities and equipment.

Those eligible include people who are into arts and crafts, the performing arts, digital media, music, literary works, design, and film and video.

Mr Fenech said that the aim of the incentive was to improve quality, increase added value and to develop the economy.

The economy depended on creativity and the aim of the scheme was to help in the creation of more creative jobs, which gave employees more satisfaction.

The scheme will be administered by Malta Enterprise and will close on March 31, 2013.

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