The credit could go as high as 35% for work done upstate — where officials are especially eager to promote economic development. Since the program began in 2004, the state has issued $1.04B in tax credits for projects with an estimated economic value of $7.57B.
Related: TV Production Takes Another Big Hit Says FilmL.A.
Here’s today’s release:
Governor Andrew M. Cuomo today signed legislation that will strengthen existing incentives offered by the state to attract additional film post-production activity to New York.
Since the state began offering tax credits to support the film and television industry in 2004, producers have spent more than $7 billion in New York. The new law signed today is designed to expand state support by specifically focusing on attracting post-production work to communities in all corners of the state.
“New York State’s program of incentives to attract film and television productions to New York has been a tremendous success, generating billions of dollars in economic impact and supporting hundreds of thousands of hires,” Governor Cuomo said. “However, there is potential for this industry to make new investments in communities across the state and in doing so, help make New York the television and film capital of the world. With this legislation, New York is inviting producers, directors, and editors from across the nation to bring their post-production work right here to the Empire State. The new New York supports business and this law is a clear sign that the state stands ready to help enterprises that are looking for new places to invest, expand, and create jobs. I thank the sponsors for their hard work on this new law.”
Post production includes all of the editing after filming is complete and includes visual effects, color correction, sound editing and mixing, along with thousands of other jobs this industry touches, from engineers and messengers to support staff and creative. Since being established in 2010, New York State’s post-production incentive program has been underutilized, as the 10 percent credit offered by the program resulted in only 19 applications in two years.
The law signed today by the Governor increases the percentage of tax credits available for projects that did not film in New York but will now qualify for credits for post-production work done in New York. Under the new law, the qualified film and television post production credit increases from 10 percent to 30 percent in the New York metropolitan commuter region, including New York City and Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk and Westchester counties. An additional five percent (for a total of 35 percent) in tax credits would be available for post-production expenditures in locations elsewhere in the state. The additional five percent in tax credits for upstate post production is designed to encourage investment in and construction of new facilities in Upstate New York.
Senator John A. DeFrancisco said, “The purpose of the post production film tax credit is to incentivize the film industry to do post production work in New York State. The credit has been underutilized. This new law increases the percentage available for post-production credit, and will facilitate a greater utilization of those funds throughout New York State. It encourages production companies to conduct business and create jobs in New York. I commend Governor Cuomo for signing my bill into law.”
Assembly Member Deborah J. Glick said, “This adjustment in the film tax credit will encourage more post production work to be done here in New York where so many more films and TV shows are produced. I am really pleased because of the jobs it will mean to people who are part of the creative capital here in New York.”
New York State’s film tax credit program began in 2004. The program is worth $420 million each year including $7 million for post-production credits. Since the program began, there have been 727 applications for the tax credit program, which when all completed will spend an estimated $11.3 billion. Of the 727 projects, 473 projects have been completed or received credit to date. The total credit issued so far has been $1.04 billion for completed projects, which generated an economic value of $7.57 billion. In 2011, New York State received 135 applications that are projected to spend $1.5 billion. In 2012 so far, New York has received 88 applications that are projected to spend $1.46 billion.
Since 2004, the tax credit program is responsible for more than 522,000 hires by the film and television industry in New York State.
A number of major film and television productions have cited the state’s program as a leading factor in the decision to film and produce in New York. The new law signed by the Governor today strengthens the existing incentives to help communities in all corners of the state attract these investments.
Marcelo Gandola, Senior Vice President of Creative Services at Deluxe, and President of the Post New York Alliance, said, “Signing into law this incentive will have a tremendous impact on my group of companies as well as dozens of other post production facilities throughout the state. With the Governor’s signing of this bill into law, the growth opportunity for the post production industry has been accelerated. Our companies will now be able to expand our educational efforts to create a job-ready workforce to service our industry’s expansion. We look forward to hiring more people immediately to meet increased demand for services.”
Yana Collins Lehman, Managing Director of Trevanna Post, a premier post production accounting firm, said, “Increasing the post production incentive to thirty percent – and thirty-five percent upstate – as has just been signed into law by Governor Cuomo, will make New York a front runner in the very competitive post production film and TV landscape. New York will now be a destination for film and TV post production, leading to thousands of jobs being created all over New York State.”
The new law takes effect immediately.



Excellent legislation. Congrats, NY.
excellent if you live in NY. Another blow to the Ca. film industry. Time to put the house on the market. “Going East” young man.
At a cost of over $400 million each year, it’s highly unlikely the state will be able to offer such a generous subsidy for more than a few more years. You may want to rent before you buy.
As I read it, the amount of money is still the same, it’s the percentage per job that increases. Once 7 million is reached its over. So the big boys now have incentive to keep tv in ny but no money left for anyone else. Go to Vancouver, world class post and no cap…
Wow! Great news, maybe slowly but surely post will have other places to live other than LA.
Good news for those of us who live here. Makes it a little easier to argue your stuff should be shot here. Good job NY.
NEW YORK gets it. Made my last 2 films there and want to go back. Great news for filmmakers and NY.
Gee, a state that actually desires productions and the jobs that result. Here in California our government has created the most anti-business climate anywhere and who now wants to tax job creators and “the rich” (those making over $250k) even more.
Detroit, here we come! Yipeee!
Um, California spend four times as much each year on its film incentive than Michigan does.
Since the funding to pay for this subsidy comes from the same $420 million annual pool, this could just end up shifting where the jobs are held. The 30% credit that goes to post for a big film means there will be less available to lure another project, for example.
So, who’s in charge in L.A.? And exactly WHEN will Hollywood “workers” rise up and protest to get CA government leaders & entertainment biz leaders to bring back & keep business here? The Hollywood luster’s gone. How sad. Wake up people. Isn’t this a form of ‘out-sourcing’.
Nah – wouldn’t be “outsourcing”… NYC is still more expensive.
One has to congratulate NY for being competitive and embracing the art and business of today’s film making. They get that the Film Industry is now global and there is no turning back. Although, it’s both interesting and sad when you hear Governor Cuomo state that its tax credit subsidies are to, “help make New York the television and film capital of the world”. Isn’t that Hollywood’s title? I guess not anymore. Shame on California.
Gee, why does cutting taxes work to generate business?, I ask of the liberal Hollywood establishment. Shouldn’t this translate to all businesses? It doesn’t take a rocket scientist to see how lower taxes make industry more competitive and thus creates jobs, thus creates more income tax payers, thus taking more people off of the dole (unemployment, welfare, food stamps, etc.) so it’s a double positive, the treasury takes in more overall taxes by cutting taxes and keeps more of what it gets by not having to shell out entitlements and people feel better about themselves when they are working, so why do all of you keep voting for libs that just keep wanting to raise taxes? I just don’t get it. High taxes kill business and kills individual incentive.
Film tax credits are not about lower taxes–they are about cash. Production companies almost never owe a cent of state tax, which is why the film tax credits (unlike almost every other tax credit in the nation) are “refundable”. If they weren’t refundable, the would be worthless, as there is no tax liability. The production basically gets a check back from the state for 25% of eligible production costs. Make no mistake, this is a cash subsidy and NY is paying to make movies and shows. Taxes have NOTHING to do with it.
While you have a point – you have to remember that NY state has a lot of taxes itself… and NYC is the most expensive city in the country. Most of the work that is there is because the stories (film/television) take place in that area. You’d be hard pressed to find a significant amount of projects in the NYC area that “fill in” for other places (Boardwalk Empire “fakes” Atlantic City in Brooklyn and Staten Island – but those are still the same general area so doesn’t really count). You still have a lot of work that doesn’t go to NYC because of the cost and not enough space. Upstate NY could fill in for other places (like Canada)… but again – that would most likely be for work already based close by. There are a lot of factors involved.
On reading further I realized this is different than the previous incentive. That original one targeted only productions filmed in NY… this one is for post-production that can be done elsewhere
And to add to my comment, the more people that work, the more they spend so the more other businesses can open and flourish. It also means people feel more comfortable and start to buy homes thus stabilizing the housing market. Once the housing industry is stabilized then the property taxes that get paid to the counties’ treasuries becomes more stable and then this whole talk about class warfare and taxing the rich because our government can’t keep their hands out of our pockets, goes away and places like L.A. won’t have to declare bankruptcy.
It all makes sense BUT, as long as it doesn’t hit home, affect their jobs, family, extended families, their income… don’t hold your breath; CA decision-makers. Think Romney has any clue what it’s like not having $250+ Mil. socked away? Neither do those having less than him and nor do they care. Sad.
That’s good for the talent working in NYC.