NEW YORK, Jan. 18, 2017 /PRNewswire/ -- Small businesses across New York State are applauding Governor Cuomo for including a crucial funding extension for the widely successful Film Production Tax Credit Program in his state budget proposal, released on Tuesday. The New York Production Alliance, a consortium of New York-based film producers, small businesses and labor groups, released a video message highlighting the program's positive impact on employment in New York, calling on the Legislature to approve the funding extension in the final adopted budget.
First implemented in 2004 and expanded under Governor Cuomo in 2013, the tax production incentive program was set to expire in 2019. The governor's budget proposal includes a three year extension until 2022.
If approved by the Legislature, the extended production incentive program will ensure that New York will maintain its competitive advantage in keeping and attracting TV and film productions that have generated over $10.4 billion dollars in economic activity and created more than 89,000 high paying jobs. Extension of the production incentive is seen as critical in order to provide certainty to an industry that typically plans productions months and sometimes years in advance.
Long Island native Maria Stewart, whose family runs two production related businesses (Mutual Hardware, which sells materials needed for production rigging, and Alcone, a professional makeup company) says that when the tax credit program took effect she was able to double her staff to nearly 50 employees.
"We consider everyone who works here part of our family," Ms. Stewart said in the video message. "Being a New Yorker, I just don't understand why we wouldn't support the tax credit program in the place where television was first broadcast. The heartbeat of New York thrives off this industry and it has for many decades, and I hope it always will."
Empire State Development, the agency that administers the program for the state, says that at least 541 movies and TV series have been shot in New York utilizing the incentives, which have provided meaningful economic benefits to small businesses and communities across the state.
The New York Production Alliance represents the film, television and commercial production and post production industry in New York City and New York State. Representing over 85,000 people, together we promote, grow and strengthen the entertainment industry in New York. Take a stand for New York jobs at www.nypa.org.
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SOURCE New York Production Alliance