AFTRANY and the entire New York production community cheer the recent extension of the Empire State Film and TV Production Credit and the passage of a companion program to stimulate commercials production in New York. The extension more than doubles the amount of money in the program and extends it from 2008 to 2011. And the commercials production bill is a first for New York, providing millions of dollars in tax credits over the next five years.

The extension of the tax credit program (which was originally passed in 2005), increases the amount of money annually available from the state from $25million to $60million per year. In addition, if New York City again decides to opt into the program, the total annual incentive available from the city will increase from $12.5million to $30million. "This is more than we had hoped for, and sooner", said New York Legislative Task Force chair Ed Fry. "The first year of the production incentives (2005) saw a huge leap in New York production, bringing a big increase in the number of jobs for actors. Legislators saw the numbers and wanted to increase their investment in New York entertainment. This is a real legislative success. We, of course, thank Speaker Silver, Senator Bruno, Assemblyman Morrelle, Senator Golden, and Governor Pataki for passing this extension which translates for us into more New York jobs."

The companion bill stimulating New York commercials production provides $7million per year in tax incentives from the state, and authorizes an additional $3million per year from the City if it decides to join the program. The fully-funded, five-year, $50million program will help stem the slide of commercials production in New York, which has seen a dramatic decrease from 1990 levels, when over 40% of US commercials were shot in the City. Today that number is less than 20%.

Taken together, these programs will provide well over $400million in production incentives to New York entertainment, making it the largest production incentive program of its kind in the nation.

The City’s participation must approved by the New York City Council. The Mayor has already signaled his support.