Vancouver: It’s hard to know whether it’s a sign of better things to come, but the anticipated summer arrival of The Talisman, a $135-million blockbuster feature from Kathleen Kennedy and Frank Marshall, is lifting a bit of the gloom off Vancouver’s lackluster feature film production volumes.

‘It’s the first film of this size we expected to land and it did, so good,’ says Don Ramsden, president of IATSE Local 891.

Last year at this time, Vancouver had about $500 million in feature films booked. Hundred-million-dollar-plus blockbusters I, Robot, Chronicles of Riddick and Paycheck kept soundstages and production crews busy throughout the year, which closed with the big-budget Catwoman in front of cameras.

In contrast, 2004 volumes are about 60% of 2003’s feature film tally – a function of the rising Canadian dollar and a host of other intangible factors.

At press time, there were 12 features – including The Talisman, a Stephen King story directed by Vadim Perelman (The House of Sand and Fog), about a son in search of a talisman to save his mother’s life – underway or gearing up for later in the calendar.

The biggest confirmed production so far is action thriller Elektra, the Daredevil spin-off starring Jennifer Garner as a Greek assassin. The production budget for the May shoot is not public. Some guesses are in the $50-million range.

Franchise Pictures will begin shooting the serial-killer thriller Psychic with Cuba Gooding Jr. in May – a project worth about $30 million. Charley Stadler (Dead Fish) is set to direct.

Meanwhile, Fierce People is a Lions Gate Entertainment feature with an estimated $15 million budget. Diane Lane and Donald Sutherland star and Griffin Dunne (Practical Magic) directs a story about a teenager fed up with his drug-addicted mother.

Four of the productions are fully Canadian: low-budget shoots including Zolar by Insight Film & Video, Subzero by Avrio Filmworks, Lies Like Truth by Gumboot Productions and Gillian Guess Story by Force Four Productions, with an aggregate budget of about $9 million.

Action thriller Chaos is a Canada/U.K. coproduction involving Vancouver’s Rampage Entertainment. Along with its role as executive producer on Lies Like Truth, Brightlight Pictures is doing service productions such as the $15-million The Long Weekend and the $35-million Edison.

Another production, Devour, is a $4-million independent feature with Screen Gems, directed by David Winkler.

‘Vancouver never had a better year of A-listers than last year,’ says Ramsden. ‘To think we’re going to get close to that again would be folly.’

The early ratification of the master collective agreement in late 2002 helped pave the way to greater volumes in 2003, he says. But 2004’s volumes are affected by a US$0.75 loonie, up about 17% from last year, which is taking a bite out of Canada’s economic appeal, and the global competition continues to distract producers.

‘There seems to be a momentary contraction in the [film production] industry,’ adds Ramsden, citing recent business challenges at Sony and Disney.

About 40% of IATSE 891’s 5,000 members are working, while last year there was almost 100% employment in most categories, he adds.

Susan Croome, B.C.’s film commissioner, confirms that the production trend is down.

‘In the motion picture industry, business cycles are relatively short,’ she says. ‘We make adjustments as necessary and look at ways we can do better. What we’re looking at today may not be what it’s like in three months.’