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Study: N.Y. Tax Incentives Generated $6.9 B in Spending

Study: N.Y. Tax Incentives Generated $6.9 B in Spending

The Motion Picture Association of America is touting a new study as evidence of the positive impact of New York’s film and television production tax incentive program on the state’s economy. The study, released today by HR&A advisors, found that the program generated $6.9 billion in economic spending to the state economy between 2008 and 2011, and $4.2 billion in personal income.

“These findings further confirm that the New York State production incentives have grown into a major economic driver in the state’s economy,” Sen. Chris Dodd, chairman and CEO of the MPAA, said in a written statement.

New York Gov. Andrew Cuomo’s office credited the tax-incentive program with record growth in the number of film and television production coming to the state for post-production work. Performers’ unions have long-supported the expansion of production incentives. Discussing the recent announcement of a $400 million expansion plan at Brooklyn’s Steiner studios with Backstage, Richard Masur, former Screen Actors Guild national president and current co-chair of the SAG-AFTRA New York legislative committee, called the project, “an example of how well the Empire State film and television production tax credit has been working to bring much needed work to New Yorkers.”

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