The Canadian Film Development Corporation (CFDC) was established in 1968 as a recommendation of the Firestone Committee (1964-1965) and out of Bill C-204. Its mandate was to promote feature film production in Canada and to administer co-productions and determine which films would certify as Canadian films, and subsequently qualify for Capital Cost Allowance (CCA) benefits.

After the introduction of the Canadian Broadcast Program Development Fund in July 1983, and the shift in priority from feature films to revitalizing television, the CFDC was renamed Telefilm Canada in February 1984.