New York filming incentive plan could boost dominance over California
New York Governor Andrew Cuomo wants to extend state filming incentives through to 2019. The programme costs USD420 million a year but makes the state more competitive than California and has firmed New York’s position as one of America’s production hubs.
Right now New York's filming incentive programme is funded only for another year but the Governor’s Office summed up the proposed extension: “The Executive Budget extends the Empire State film production tax credit of USD420 million a year for an additional five years. Restrictions on claiming the post-production portion of the credit will be reduced and additional reporting will be required to document the effectiveness of the credit in creating jobs.”
The Executive Budget extends the Empire State film production tax credit of USD420 million a year for an additional five years.
New York Governor's Office
Doing more to document the credit’s “effectiveness” seems to be the Governor’s response to persistent scepticism about the true benefits of filming incentives for local communities.
Cuomo’s plan is likely to concern the Californian production industry, which is wrestling with a filming incentive programme that has a USD100 million annual film fund – significantly less than what's available in New York.
Global Filming Incentive - New York (see more…)
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