{"id":254303,"date":"2025-09-25T19:16:21","date_gmt":"2025-09-25T19:16:21","guid":{"rendered":"https:\/\/www.europesays.com\/us\/254303\/"},"modified":"2025-09-25T19:16:21","modified_gmt":"2025-09-25T19:16:21","slug":"how-nyc-plans-to-lure-productions-back-with-new-film-tv-incentives","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/254303\/","title":{"rendered":"How NYC Plans To Lure Productions Back With New Film & TV Incentives"},"content":{"rendered":"

\n\tNew York<\/a> City has served as the setting for some of Hollywood\u2019s most iconic films and television series throughout the ages. Whether it be Robert De Niro taking a job as a cabbie in\u00a0Taxi Driver\u00a0or Sarah Jessica Parker strutting down Madison Avenue in\u00a0Sex and the City\u00a0or Bill Murray and Dan Aykroyd unleashing their proton packs in\u00a0Ghostbusters, New York\u2019s famous locations and towering skylines are familiar to audiences around the world.\u00a0<\/p>\n

\n\tBut as the industry has shifted and studio and indie productions have increasingly looked to set up farther afield to benefit from more attractive tax credits in other states and nations, production in the Big Apple has been waning. At the beginning of the year, a report from the state\u2019s development office indicated that applications to its state tax credit were down 53% compared to five years ago \u2013 even after the state doubled its annual cap in 2023 from $420 million to $700 million.\u00a0<\/p>\n

\n\tSo, when New York Governor Kathy Hochul approved a state budget in May that increased the state\u2019s film and TV subsidy to $800 million and offered expanded incentives for indie productions, it was a welcome move. It felt even more significant considering that, just a few days prior, New York native Donald Trump sent shockwaves across the global film and TV businesses by proposing 100% tariffs on content produced outside of the U.S.\u00a0\u00a0<\/p>\n

\n\tWhile any levies of the sort are yet to take shape in the sector, New York and its capital have been ramping up efforts to reposition the area as a prime location for film and television projects to set up camp and Hochul\u2019s expanded incentives hope to lure productions in again. (California is also hoping to attract more homegrown productions, having recently launched its $750 million tax incentive program).\u00a0\u00a0<\/p>\n

\n\tNew York currently offers a base 30% incentive with regional step ups and the fresh pot of $100 million is geared specifically towards independent productions. In that fund, there are separate pools for films with budgets under $10 million. Of the $100 million, $20 million will be allocated for projects with budgets less than $10 million and $80 million will be allocated for budgets of more than $10 million.\u00a0\u00a0<\/p>\n

\t\t\t\t\t\t\"Director<\/p>\n

\t\t\t\t\t(L-R) Director Darren Aronofsky and Austin Butler<\/p>\n

\t\t\t\t\t\t\t\t\tNiko Tavernise \/Sony Pictures Releasing \/ Courtesy Everett Collection<\/p>\n

\n\t\u201cWe\u2019ve worked very hard to make sure that the tax credit improvements were passed and installed, and it is now stronger and better than ever,\u201d says Pat Swinney Kaufman, Commissioner of New York City<\/a>\u2019s Mayor\u2019s Office of Media and Entertainment. \u201cWe\u2019ve uncapped the above-the-line so that production can get a higher net and the fund for independent productions has been set up so that indie productions can thrive and get a faster payout. That way, you don\u2019t have to wait in a long line, and you can get your money faster. These are the areas that the state had the wisdom to create and pass, and the legislation is really helping attract more production and that is very important.\u201d\u00a0<\/p>\n

\n\tThe new package also has a provision of subsidies for return producers: Production companies that apply to shoot at least two projects in the state through 2028 are eligible for a 10% increase in their next project through 2028. TV shows, meanwhile, can benefit from the boost until the show is canceled. This means that qualifying productions are eligible for a total incentive of up to 40%, making the state hugely competitive to not only other states but also major international destinations such as the UK, Hungary and neighboring Canada.\u00a0\u00a0In order for a project to qualify as a New York production, 75% of the film or series has to shoot in New York.\u00a0<\/p>\n

\n\tFurther revisions include the removal of a $500,000 cap on above-the-line costs, such as actors\u2019 pay and lower eligibility requirements for VFS and animation subsidies. At the time, Motion Picture Association chief exec Charles Rivkin said the new changes were a \u201cmomentous expansion of what is a proven economic driver for New York.\u201d\u00a0<\/p>\n

\n\tHe continued: \u201cThe enhanced and extended film incentive program will further cement New York as a leader in the entertainment and creative sectors. As the outpouring of support from across the state has made clear, New York crews, creatives and small businesses are applauding leaders in Albany.\u201d\u00a0<\/p>\n

\n\tFor Kaufman, she believes New York is \u201cthe creative capital of the world\u201d and points to a slew of recent productions that have shot in New York City such as Colin Farrell limited series\u00a0The Penguin\u00a0and Netflix\u2019s Black Rabbit. \u201cThere is a wealth of people who are working in the film and television industries here \u2013 we have so many creatives in the city, and they want to work here so we do our best to assist them so that they can.\u201d\u00a0<\/p>\n

\t\t\t\t\t\t\"\"<\/p>\n

\t\t\t\t\tPat Swinney Kaufman<\/p>\n

\n\tFurther productions that recently shot in the city include: Darren Arronofsky\u2019s\u00a0Caught Stealing\u00a0with Austin Butler and Zo\u00eb Kravitz, Spike Lee\u2019s\u00a0Highest 2 Lowest, Scarlett Johansson\u2019s directorial debut\u00a0Eleanor the Great\u00a0and Apple TV+ drama\u00a0The Savant\u00a0with Jessica Chastain, the latter of which was postponed following the shooting of Charlie Kirk.\u00a0<\/p>\n

\n\tAnd of course, New York has long been the home for shows such as\u00a0Saturday Night Live,\u00a0Last Week Tonight with John Oliver,\u00a0Late Night with Seth Meyers,\u00a0Law and Order: Special Victims Unit\u00a0and\u00a0iconic children\u2019s show\u00a0Sesame Street.<\/p>\n

\n\t\u201cIt\u2019s a very important element within the economy of New York,\u201d says Kaufman, who adds that her office recently brought back its Made in NY Awards ceremony after a 10-year hiatus. \u201cWhen you look at the number of jobs that the industry generates and creates, it\u2019s truly impressive. It\u2019s hundreds of thousands of jobs and so much money is spent by this industry that is very vital to the economy. We get tremendous respect within the city because it\u2019s really understood that this is an important industry and has an important economic place for the city.\u201d\u00a0<\/p>\n

\n\tKaufman continues: \u201cI can\u2019t change what is going on in the world, but I know that New York and this industry is vital. We are working hard to create the ability for all the productions from anywhere that want to come to New York. We are here and ready to support them for any project that they may want to bring.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"New York City has served as the setting for some of Hollywood\u2019s most iconic films and television series…\n","protected":false},"author":3,"featured_media":254304,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,69240,405,403,5226,5225,5228,5227,67,586,132,5230,68,2969],"class_list":{"0":"post-254303","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-hot-spots","10":"tag-new-york","11":"tag-new-york-city","12":"tag-newyork","13":"tag-newyorkcity","14":"tag-ny","15":"tag-nyc","16":"tag-united-states","17":"tag-united-states-of-america","18":"tag-unitedstates","19":"tag-unitedstatesofamerica","20":"tag-us","21":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115266544643719065","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/254303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=254303"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/254303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/254304"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=254303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=254303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=254303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}