Lobbying from the Association of Independent Commercial Producers (AICP) has helped extend New York State’s commercial location filming tax credit. The credit has produced a net 3% increase in commercial production since 2007 and in 2009 more than USD100 million was spent in-state.
The Empire State Commercial Production Tax Credit has an annual fund worth USD7 million and is split into three different sections. Separate Downstate and Upstate credits for New York offer USD3 million each annually and offer 5% of total production costs to eligible productions. There’s also a so-called Growth credit that rewards companies spending more money in subsequent 12-month periods.
The unwavering support of the legislature and the Governor for our business – and to the employment of New Yorkers – illustrates their appreciation of the economic impact that our sector has on the state’s economy.
Matt Miller, AICP
Matt Miller is President and Chief Executive Officer of the AICP: “The unwavering support of the legislature and the Governor for our business – and to the employment of New Yorkers – illustrates their appreciation of the economic impact that our sector has on the state’s economy.”
In 2009 more than 450 commercial projects filmed throughout the state, with each company spending an average of USD3.4 million. The renewal strengthens New York’s filming incentives and will help keep the state among the top three production hubs in the US.
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