New York Gov. Andrew Cuomo’s Office for Motion Picture and Television Development is taking a victory lap today, saying that tax breaks the administration supported resulted in a record 24 film and TV productions that plan to do their post production work in the Empire State. In July the state increased the post production credit to as much as 30% from 10% for work in and around New York City, and to 35% for other parts of the state. The number of projects queued up for relief under the new terms is higher than the total applications from the previous two years. That’s “proof positive that the post incentive is working exactly as we hoped it would,” says Yana Collins Lehman, co-founder and executive board member of the Post New York Alliance. New applicants include a film starring Kristen Wiig and Guy Pearce, called Hateship Friendship Courtship Loveship Marriage. Outlays for post production projects vary but go as high as $2.5M.
By DAVID LIEBERMAN, Financial Editor | Wednesday November 28, 2012 @ 2:45pm ESTTags: Film Tax Credit Incentives, New York, tax credits
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