Yep, it does help. From Broadcaster magazine:
The Canadian Recording Industry makes a significant contribution to Canada's economy with a vast majority of the activity taking place in Ontario, according to a new report by PwC for Music Canada.
The analysis examines the spending of major and independent music companies in Canada and estimates their impact on the GDP as $240 million in 2010 with a staggering 81% of the activity taking place in Ontario. This generates $37 million dollars in government revenues in Ontario alone.
"This is music to my ears," said Michael Chan, Minister of Tourism, Culture and Sport. "Ontario is home to gifted professionals - from musicians, to producers to record labels that promote our province's unique culture while generating highly skilled jobs that strengthen our economy. The McGuinty Government is proud to partner with our music sector, solidifying Ontario's reputation as a competitive creative market and a national industry leader."
Quebec is the next largest market, and with the Atlantic and Prairie regions, accounts for about 32% of the independent companies' spending and 12% of the major companies' spending.