April 23, 2008 - Governor David A. Paterson today announced that he will sign legislation this afternoon, which will dramatically expand the Empire State film production tax credit program and help attract even more movie and television industry business to New York. The significant expansion of the tax credit will keep New York the most popular destination outside of Hollywood for filmmakers, and further promote an industry that creates billions of dollars in economic activity in New York each year.

Qualified productions in New York City can take advantage of the expansion of New York State’s tax incentive program when filming in the five boroughs. Feature films, episodic television series, TV pilots, and television movies and miniseries that complete at least 75 percent of their stage work at qualified production facilities in the city will be eligible for a 35 percent refundable tax credit.

Previously, New York’s tax credit was comprised of a 10 percent refundable tax credit from the state and a 5 percent credit from the city. With the passage of the state’s new budget, the state’s 10 percent has been increased to 30 percent. Combined with the city’s 5 percent credit, productions will see added cost savings when they choose to film in New York City.

New York City is currently the only city in the country with a tax incentive program. In addition, the city offers a marketing credit that provides outdoor media valued at 1% of a production’s New York City costs. The media is available in the forms of bus shelters throughout the city as well as broadcast opportunities on NYC TV and 91.5 FM on the radio.

“Film and television play a major role in New York City’s place as a world-class center for culture, and the industry’s continued growth will play an important role in our efforts to diversify the economy,” said Mayor Michael R. Bloomberg. “The expansion of the Empire State film production tax credit program is good news for New York City, and I thank Governor Paterson for signing it into effect.”

Since the inception of the “Made in NY” incentive program in 2005, the city has witnessed record-breaking increases in production levels. In 2006, for example, the city hosted 34,718 location shooting days, compared to 23,321 shooting days in 2004, the year before the credit was passed.

“It’s never been a better time for productions to film New York City,” said Commissioner Katherine Oliver. “A 35 percent refundable tax credit – 30 from the state and 5 from the city – makes New York more attractive than ever for film and television productions. This increase also means more employment opportunities for the more than 100,000 local New Yorkers who work in the entertainment industry – an industry that generates $5 billion in the city’s economy each year.”

In anticipation of the recent increase in production, the Mayor’s Office of Film, Theatre and Broadcasting has sought to ensure that a diverse group of New Yorkers can benefit from the entertainment industry through a series of dynamic programs. Among these are the “Made in NY” Production Assistant Training Program, free, full-time training for entry level positions in film and television; the “Made in NY” Vendor Discount Card Program, which provides discounts from local businesses to productions; and Career Days, panel discussions from industry professionals that take place throughout the five boroughs.