Leaders of the film and television production industry in New York State praised Governor Andrew M. Cuomo and the Legislature for enacting the 2017-’18 New York State budget, which includes a full extension of the New York State Film Tax Credit Program. Now in place until at least 2022, the program generates a tremendous economic impact annually in the Empire State, and in recent years has contributed to record job growth while spurring the development of more infrastructure, soundstages and post-production facilities statewide.
Since 2011, more than 1,000 film and television projects have submitted applications to the Film Tax Credit Program, generating an estimated $15.3 billion in spending and approximately 966,854 hires new hires in New York State. Additionally, the number of Qualified Production Facilities across the state has increased to a total of 79, containing more than 275 soundstages.
“By securing a full extension of the Film Tax Credit Program, Governor Cuomo has cemented New York State’s position as one of the world’s top locations for the highly competitive film and television industry,” said Empire State Development president, CEO & Commissioner Howard Zemsky. “The three-year extension ensures the state will continue to benefit from the program’s significant economic impact, which has reached record levels in recent years and provides a boost to local small businesses and communities throughout the Empire State.”
Chris Dodd, chairman and CEO of the Motion Picture Association of America, said,“This will ensure stability and predictability for television and motion picture producers that utilize one of the most successful incentive programs worldwide. New York will continue to create thousands of jobs and add billions of dollars to the New York State economy as even more television series and feature film productions will locate in the Empire State.”
The Directors Guild of America said, “The Directors Guild of America commends Governor Cuomo and the New York State Legislature for renewing the Empire State Film Production Tax Credit. Thanks to this incentive, production across the state has more than tripled over the past decade, together with the earnings of our members who live and work in New York’s communities. This extension ensures continued prosperity for New York as a premier destination for television series and feature films well into the future.”
Stuart Suna, president of Silvercup Studios, said, “We were very happy that Governor Cuomo, State Senate and Assembly leadership passed the new New York State Budget which included an extension of the New York State Film and Television Tax Credit Program. It was an affirmation of good business policy continuing to create great high paying jobs in the film and television production industry and positive net tax revenue for New York State. It is a “win-win” for all New Yorkers!”
Bruce Richmond, EVP of production for HBO, said, “New York has been home to so many HBO productions. The three-year extension of the production incentive program agreed upon by Governor Cuomo and the New York Legislature continues to make the state incredibly attractive to our projects. Whenever we are shooting, jobs and revenue flow into the local economy and we are appreciative that those contributions are recognized.”
Thomas J. O’Donnell, president of Theatrical Teamsters, Local 817, said, “Theatrical Teamsters Local 817 applauds Governor Cuomo’s budget extending the New York State Film Tax Credit Program. We have witnessed during the stewardship of the Governor an explosion of solid, middle-class jobs in the television industry and with the extension in place, fully expect to see continued growth.”
Paul Moore, Eastern executive director of the Motion Picture Editor’s Guild, I.A.T.S.E. Local 700, said, “Thank you Governor Cuomo for extending the New York State Film Tax Credit Program, which is a major job creator. The Governor’s robust post-production tax credit has resulted in an exponential increase in work, with projects coming to New York that previously would have gone elsewhere. By extending the film credit another three years, film and television producers will be confident that New York continues to be the right place to edit film and television projects.”
Yana Collins Lehman, chair of Post New York Alliance and president and COO of Trevanna Post, Inc. said, “The Post New York Alliance extends its sincerest gratitude to the NYS Senate and Assembly for passing the budget and extending the Film and Television tax incentive. Governor Cuomo’s consistent support of the film and television post-production industry has resulted in the creation of thousands of jobs throughout New York State since 2012. The Post New York Alliance is grateful to Governor Cuomo for taking forceful action to ensure that jobs continue to be created and supported all over the State. Since he took office, the Governor’s vision has solidly established New York State as the premiere destination for finishing film and television projects. Six years ago, Hollywood and Canada had this distinction. Now, thanks to the Film and Television Tax Credit Program, and its extension in the 2017 budget, thousands of jobs that stimulate the entire economy of New York State will stay here and the post ecosystem will continue to grow.”
