Expect to see “Filmed with support from the Governor of New York State’s Office of Film and Television Development” in the end credits of every film receiving state tax breaks for filming here.
The state’s Film Production Tax Credit program, which provides credits of up to $420 million a year to encourage film projects in New York, is set to be extended for three years through 2029, according to a budget bill.
But the budget bill includes some changes: For example, beginning January 1, 2023, a film production company claiming the credit will have to file a diversity plan with the state, outlining specific goals for hiring employees. a diverse workforce.
This plan should also indicate whether the company intends to participate in training, education, and recruitment programs designed to promote and encourage the hiring of New York residents who represent the diversity of the state.
Proponents say the tax credit has helped boost western and upstate New York as locations for major film productions. In and around Buffalo, for example, crews have filmed portions of films such as “Marshall,” “The First Purge,” “A Quiet Place II,” and “Nightmare Alley,” and two developers are interested in building. film production spaces in the region.
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The tax credit applies to production and post-production costs for filming, excluding the salaries of actors and actresses. This is worth up to 25% of those costs, with upstate productions eligible for an additional 10% for labor costs. The annual cost of the program has been capped at $420 million until 2025.
The state budget also appears set to establish an “Empire State Digital Game Media Production Credit,” intended to help the state’s video game development industry.
The program would be endowed with $5 million a year, according to a budget bill, and funds would be allocated by the state in the order in which applications are received.
The Entertainment Software Association, a video game industry trade group, had advocated for the tax break to be in place, pointing to New York’s 141 video game companies, 29 university programs and eight research teams. college esports.
The digital game program would run from January 1, 2023 to January 1, 2028.