NY State Film Production Tax Extension and Enhancement
/The New York state budget proposal includes enhancements and the expansion of the NY Film and Production Tax Credit that will help save the endangered film and TV industry and serve to stimulate the economy with living wage jobs. This program is an essential component of our industry’s success and a critical driver of economic activity across NY.
Achieving consistent and sustainable industry growth, remaining competitive and maintaining our leadership position as the most influential metropolis and state in the nation requires competitive tax credits to offset film production tax credits that are in place across the globe. We cannot risk losing productions to other states and/or countries.
A report sponsored by the NYS Empire State Development covering 2021-2022 finds that for every $1 of the current film production tax credit:
$1.70 of state and local government tax revenue is generated
$13.80 is added to the State’s GDP; and
$23.90 of additional real economic output is created.
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The film and television industry supports thousands of small businesses from caterers and equipment rental companies to local vendors, construction crews, and hospitality services. Every production that films in our studios requires a crew of up to 250 or more individuals, each of whom helps to generate direct, indirect and induced economic impact. When a production spends time filming in our studios, it is our neighboring local businesses and residents who benefit. The film and television industry embraces the cultural diversity, characteristics and authenticity that make our communities unique. From Albany to Yonkers, NY serves as the perfect backdrop!
Learn more about the New York State Film Production Tax Credit here.
One of New York’s largest and most trusted full-service studio production companies, offering comprehensive services for film, television, live streaming, commercials, live performances, music videos, and more. With over 40 years of experience, we’ve become a cornerstone of New York’s thriving creative industry.
With more than 60 soundstages spanning across Brooklyn, Queens, and Staten Island, Broadway Stages offers over 4 million square feet of state-of-the-art production space, including soundstages, support space, distinctive filming locations, parking, and in-house services for lighting, power, and grip rentals. We provide tailored solutions for productions of all sizes, delivering the resources and expertise needed to meet your creative and technical needs.
Learn about film and TV industry jobs, training, and more in the Broadway Stages’ Industry Resource Guide. Our guide provides information and links to put you in touch with industry-focused job posting sites; general recruiting sites; education and training programs; and state, city, and borough industry information.
