State wants more Hollywood in NY
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- April
- 23
  Gov. David Paterson announced this morning that he plans to sign legislation today to triple the state’s tax credit for the movie and television industries, from 10 percent to 30 percent and extends the program through 2013. The approval coincides with the start of the seventh annual Tribeca Film Festival in New York City, which runs through May 4. Â
  The new law “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” and result in thousands of jobs, the governor announced.
  Under the 10 percent tax credit, employment for members of the Screen Actors Guild fell after Connecticut and other nearby states introduced similar, but more generous, tax incentives, said Nancy Fox, national director of policy and strategic planning for the guild.
  The loss of business has cost the state $750 million, according to the administration.
  The tax credit has been criticized by some as an unneeded giveaway during tough economic times.
  Pat Swinney Kaufman, executive director of the governor’s Office for Motion Picture & Television Development, said she was just making studio visits and meeting with producers in Lost Angeles, “and they are ecstatic about the increase. We expect to get a bumper crop of new productions …”
     The new law raises the aggregate amount that can be awarded during a calendar year from $60 million to $110 million, phased in over six years.
This entry was posted
on Wednesday, April 23rd, 2008 at 10:59 am by Cara Matthews.
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The union costs locally sent movie makers out of NY to places like Toronto and elsewhere in Canada. Part of what NY is doing now is covering for the high union expenses by offering all these incentives.
Is it true they want to make “The Happy Hooker: The Eliot Spitzer Story?”
Movie makers are also going to Connecticut, instead of NY. One presumes the union costs are the same, but CT offers better tax incentives than NY.
Like everything else in NY, we are losing business and residents alike. Within the past 4 years, Stamford,CT has been the site of a least 8 major movies. What’s going to happen to old NY? Redundant services, social programs, etc are sucking the life out of taxpayers. It time for a good old fashioned tax revolt. Just like our forefathers.
Instead of tea into Boston Harbor, it should be politicians into New York Harbor. Or into the Hudson off Albany.
We have the best actors in the world right here in our County Office Building and in Albany. Why would anyone want to cast elsewhere?