Written by new-contact on Dec 5, 2012. Posted in Incentive News

Report spotlights healthy return for New York’s location filming incentive

New York’s location filming incentive brought USD6.9 billion to the state and generated USD2.23 in tax for every dollar issued in 2011, a new report shows. Some 12,600 production jobs were created as a result of the credit.

The study was commissioned by the Motion Picture Association of America (MPAA). One hundred and thirty five separate projects qualified for New York’s Film Production Tax Credit in 2011 and spent a combined USD1.5 billion.

Senator Chris Dodd is Chairman and Chief Executive Officer of the MPAA: “These findings further confirm that the New York State production incentives have grown into a major economic driver in the state’s economy."

These findings further confirm that the New York State production incentives have grown into a major economic driver in the state’s economy.

Senator Chris Dodd, MPAA

Dodd adds: “Not only does film and television production in New York employ the thousands of men and women working on some of the most popular television shows and films, it also supports small businesses in every sector of the economy.”

New York increased its post-production tax credit in mid-2012 and is also rewarding productions that get the work done outside New York City. The state is one of America’s main production hubs and Steiner Studios in Brooklyn is considering a USD400 million expansion.