New York film industry gets big lift from post-production incentive boost
New York has seen a 25% increase in post-production work in the year since the state’s tax credit got a big boost. In July 2012 the post-production incentive was tripled to 30% for work done in and around New York City, and increased to 35% for work done in upstate regions like Buffalo.
“In the last 12 months, the Post New York Alliance has witnessed an expansion of the film and television post-production industry that has surpassed our greatest expectations,” said Yana Collins Lehman, managing director of Trevanna Post and executive board member of the Post New York Alliance, which compiled the new figures.
“We have seen consistent hiring and revenue increases across the board since the post incentive was improved last July," Lehman added: "So much so that a new visual effects company, Empire Visual Effects, is now doing business in Buffalo: the first of many partnerships between upstate and downstate-private business and public education.”
Earlier this year The Amazing Spider-Man 2 became the biggest feature ever to film entirely in New York, taking advantage of the state’s 30% filming tax credit. Generous tax credits have also played a part in relocating iconic TV programme The Tonight Show from Los Angeles to New York for 2014.
Global Filming Incentive - New York (see more…)
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