Wednesday, January 20, 2010
NY Proposes $420 mil For Film, TV Tax Credits
Backstage: "New York Governor David Paterson on Tuesday proposed $420 million per year in state money for the continuation of tax credits for film and TV productions in the Empire State through 2014."
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2 comments:
I think it is important the New York allocates money to retain the TV and film industries. I live in CT, about an hour away from the city and the town that boarders me is currently building a large 4 sound stages. They are building it right next to the Bridgeport Airport because with a helicopter, it is just 18 minutes from New York City to this production lot. The reason it is being built here instead of New York is because taxes are cheaper and the connecticut market is more cost effective for production, according to my mother's friend who is heading the publicity for this studio. If New York wants to remain competitive in the film/TV market, they need to initiate tax credits like this.
I agree with Jon and after reading last weeks article about how LA is losing productions it only makes sense for NY to capitalize on this. So many movies are set in big city and a lot of them are actually set in NY. Making the city financially available for these productions will shoot to the top of the list for location selections. It also has the possibility to create more incentive for some who wants to work in both theater, film, and/or television to move to NY. This, of course, will bring more money to the city.
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