FOR IMMEDIATE RELEASE
December 15, 2004
STATEMENT BY MAYOR MICHAEL R. BLOOMBERG ON THE CITY COUNCIL'S PASSING OF THE FILM PRODUCTION CREDIT LEGISLATION
"In the State of the City, I pledged to deliver a package of incentives that would support and attract film and television production, and I am extremely pleased that today the City Council has passed the New York City Film Production Credit legislation. The legislation will provide a 5% tax credit to eligible productions, and supplement the 10% tax credit enacted by the State which became effective on August 20, 2004.
"Diversifying our economy across all five boroughs is a key prong of our economic development strategy; that's why we are so committed to expanding our share of this important industry. We invested $28 million in infrastructure improvements at the Brooklyn Navy Yard to spur the development of Steiner Studios; created a marketing credit to provide free City advertising to qualifying productions that shoot in the City; negotiated discounts on transportation and lodging for members of the industry who come to work here; partnered with production companies to promote 'Made in NY' productions; secured access to premium locations for filmmakers; and expanded our concierge services to assist producers with every aspect of the production cycle, from script to screen.
"Film and television production employs over 100,000 New Yorkers, and this measure is a critical component of our 'efforts to retain and attract production work for this key employment sector."
Edward Skyler / Jennifer Falk (212) 788-2958