A record number of film and television productions are coming to New York for post production, New York Governor Andrew M. Cuomo’s Office for Motion Picture and Television Development announced today.The sudden growth is reportedly a result of the state’s recently expanded tax incentive program, intended to attract more post-production work to the region. Gov. Cuomo signed a law earlier this year that tripled the available post-production tax credit from 10 to 30 percent in the New York City area, and up to 35 percent for work in other parts of the state.Since the new legislation was passed in July, 24 productions have joined the program in four months. The number of productions that have applied for tax credits in this time is more than the total number of productions that applied in two years under the old tax credit.“Receiving more applications in four months than in the previous...
- 11/28/2012
- backstage.com
New York Gov. Andrew Cuomo’s Office for Motion Picture and Television Development is taking a victory lap today, saying that tax breaks the administration supported resulted in a record 24 film and TV productions that plan to do their post production work in the Empire State. In July the state increased the post production credit to as much as 30% from 10% for work in and around New York City, and to 35% for other parts of the state. The number of projects queued up for relief under the new terms is higher than the total applications from the previous two years. That’s “proof positive that the post incentive is working exactly as we hoped it would,” says Yana Collins Lehman, co-founder and executive board member of the Post New York Alliance. New applicants include a film starring Kristen Wiig and Guy Pearce, called Hateship Friendship Courtship Loveship Marriage. Outlays for post...
- 11/28/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
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