NYC Mayor’s Office of Media and Entertainment Celebrates FY 2026 Empire State Film Production, Digital Game, and NYC Music & Theatrical Tax Credit Expansions

New York - May 9, 2025 - The NYC Mayor’s Office of Media and Entertainment (MOME) is celebrating the passing of the FY 2026 NYS State budget, most specifically the amendments to the Empire State Film Production, Digital Gaming Media Production, and NYC Musical and Theatrical tax credit programs, which will all serve MOME’s mission to support NYC’s creative sectors, and make them accessible to all New Yorkers.

"Congratulations to Governor Hochul and team on the passing of the state budget. This budget includes welcome amendments to New York's tax credit programs that apply to our entertainment sectors” said Pat Swinney Kaufman, Commissioner of NYC’s Mayor’s Office of Media and Entertainment. “In regards to film and television production, these amendments keep NYC financially competitive with other locations. NYC’s workforce, infrastructure, and iconic backdrops as well as the Adams administration’s ‘City of Yes’ attitude make our city the best in the world for filming. Additional thank yous go to Majority Leader Stewart-Cousins, Deputy Leader Gianaris, Speaker Heastie, the State Legislature and especially Mayor Eric Adams who communicated to Albany the need for state support to this vital sector.”

The following outlines the amendments to the Empire State Film Production, Digital Gaming Media Production, and NYC Musical and Theatrical Production tax credit programs:

• Film and TV Tax Credits will be extended from 2034 to 2036, and includes:
  • Introduction of a new “Production Plus Program”
    • Allows qualifying production companies that submit 2 or more tax credit applications to be eligible to receive an additional 5% to 10% tax credit on future productions through 2028
  • Introduction of new Empire State Independent Film Production Credit
    • Adds $100M in annual film tax credits for independent films
    • Applies a 30% tax credit to qualifying costs for independent films
  • Changes the definition of “Qualified Independent Film Production Company”
    • Removes $15 million budget cap per film
  • Removal of the tiered payout structure for tax credit applications filed on January 1, 2025 or later
    • Taxpayer receives 100% of the tax credit in the same year (instead of being paid out over 2-3 years under the current law).
  • Removal of the $500,000 cap on above-the-line compensation per person
  • Adds an extra 10% tax credit for qualified costs for music scoring incurred in NYS and the scoring costs include payment to a minimum of 5 musicians.
• NYC Musical and Theatrical Production Tax Credit will increase from $300 million to $400 million and extend timing by two years.
• Digital Gaming Media Production Tax credit will allow unused funds to rollover to subsequent fiscal years.

These tax credit enhancements come as the City of NY prepares to host major events that continue to make NYC the creative capital of the world, including the NYC Video Game Festival on May 31, New York Music Month throughout the month of June, and the “Made in NY” Awards at Gracie Mansion on June 16.

Mayor Adams, the Mayor's Office of Media and Entertainment and other members of the administration have collaborated on many new initiatives to support the city's entertainment industry and open doors for New Yorkers to jobs in these sectors. The City has seen the expansion of its production facility infrastructure with new studio groundbreakings in 2023 at Pier 94 in Manhattan and East End in Sunnyside, Queens, and more studio openings, including Wildflower and Borden joining its slate of iconic studios around the five boroughs. This administration has continued workforce development in its entertainment industries with the "Made in NY" Training Programs in Production Assistance, Post-Production and Animation, among others, growing the number of graduates in these programs to over 1200 New Yorkers. In 2025, the administration celebrated the 27 "Made in NY" productions to receive nominations during awards-show season, an indication of the city's large local workforce, growing infrastructure and overall dedication to making NYC a City of Yes in terms of TV production.

Under the Adams administration, the city created the first-ever Film and Television Production Industry Council, created to advise the city's production policies and programs; continued the NYC Public School Film Festival, which celebrates the talent and diversity of student voices; extended support for various local film festivals to elevate diverse storytelling; and introduced Executive Order 21, requiring each city agency to have a film office liaison and expedite filming on NYC property, helping to keep NYC on screens for audiences around the world and thus encouraging tourism and cementing NYC's role as a global production hub.