NY State Tax Credits to Support Film Business in LIC and Astoria

Mon, 23 Jan 2006 03:42:51 GMT

clipped by: MyAstoria

Gov. George Pataki came to Queens Friday to pledge that he would attempt to correct that mistake, making permanent a program that gives a 10 percent tax credit to film and television productions in New York State as part of his 2006-07 Executive Budget.

Pataki joined Philbin, along with the cast of ABC series “Hope and Faith,” and network executives, at Silvercup Studios in Long Island City to announce the renewal of the tax credit, which they said has lured many filmmakers back to the Big Apple.

The tax credit had been a pilot program set to expire in 2008, but an almost-immediate flood of new business at New York film studios encouraged officials to establish the incentive as state policy. In 2009, the recent budget also calls for the credit to increase from $25 million to $30 million annually.

“It works. In the last year and a half, almost a billion and a half in economic activity happened in this great city and state because we are now competitive,” said Pataki, speaking from the set of a new NBC pilot, “Kidnapped.” “We have the creative talent, the stars, the producers, and now have the ability to attract those when they have to make a tough business decision to film in New York instead of Vancouver.”

Tags: hollywood east, lic, astoria, queens, myastoria, new york, ny, pataki

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NY State Tax Credits to Support Film Business in LIC and Astoria