Senator Thomas K. Duane Hails $350 Million for Film and TV Production Credit
Funding Puts New York – And 29th District – Back in Front of the Cameras
Film and Television Industries Employ More Than 100,000 People in New York
New York State Senator Thomas K. Duane (D WFP, Manhattan), a strong proponent of the State’s tax incentive plan for film and television production, today praised the inclusion in New York State’s 2009-10 Budget of $350 million in new authorizations for the New York State Film Production Credit Program. However, Senator Duane stressed that this benefit should be made permanent to encourage productions to film in New York for years to come.
“While the economic benefits of the tax credit will be felt throughout the state, they will be particularly strong in the 29th Senate District, which is home to six major production facilities and to thousands of professionals who are employed directly or indirectly by the film and television industries,” Senator Duane said. “We must make this tax credit permanent to allow motion pictures, television pilots and series to plan to film in New York for 2010 and beyond.”
Senator Duane cited a February 2009 Ernst and Young study “Estimated Impacts of the New York State Film Credit,” which indicates that the State’s 30% tax credit on qualifying production costs will create and retain 19,512 jobs statewide. Moreover, the study projects that the State’s incentive, combined with New York City’s 5% film tax credit, will deliver a $1.90 return on every $1 invested.
Senator Duane has long been an advocate for the New York State tax credit for film and television production.
“I supported this credit’s establishment in 2004 and its expansion from 10% to 30% last year. I recognize that film and television production create thousands of solid, middle-class, unionized jobs with benefits; support thousands more workers in ancillary businesses; and generate far more tax revenues than they cost in incentives," said Senator Duane. "Especially in these tough economic times, we need to keep these industries here and growing in New York.”
Film and television production facilities in New York’s 29th Senate District which qualify for the tax benefit include All Mobile Video with facilities in Chelsea and Hell’s Kitchen; AMV Unitel on West 57th and West 53rd Streets; Exit ART on 10th Avenue; Manhattan Center Productions on West 34th Street; SilverScreen at Chelsea Piers and Webster Hall on East 11th Street.
“I look forward to working with the Community Boards in my district, the Mayor’s Office of Film, Theatre and Broadcasting and the production companies themselves to ensure that the television and film industries continue to thrive while being respectful and considerate of the neighborhoods, public spaces and people of this city.”