New York City’s “MADE IN NY” INCENTIVE PROGRAM from the Mayor’s Office of Film, Theatre & Broadcasting (MOFTB) offers film and television productions a slate of opportunities that make it more attractive than ever to shoot in the five boroughs, featuring a combination of tax and marketing credits – along with expanded customer services for production.
History of the Made in NY Incentive Program
Officials noticed New york City was losing film projects to other cities that gave tax credits to productions; projects regularly faked classic New York scenes on nondescript urban streets in cities like Toronto, avoiding New York. So in an effort to undo New York’s reputation of being a difficult and costly location for film and television shoots, the Bloomberg administration instituted the Made in NY Incentive Program. And for good reason. By 2009, the entertainment production industry is valued to be $5 billion-a-year business in New York, employing more than 100,000 people.
In 2005, the city instituted a 5 percent tax credit that, when combined with a 30 percent state tax credit, helped revive the industry and draw productions, including the ABC sitcom “Ugly Betty” and the films “Spider-Man 3″ and “The Nanny Diaries.”
Shooting days, which is how the city measures the health of the industry, went up to a high of 34,718 in 2006, compared with 19,309 in 2003. They have slipped slightly in recent years, to 27,251 in 2008.
The money for the tax credit ran out in 2009, and a proposal to renew it is still being considered in Albany.
Some of the last big projects to take advantage of the credit are major movies coming out in 2010 such as the Jerry Bruckheimer film “The Sorcerer’s Apprentice,” starring Nicolas Cage, along with the “Wall Street” sequel and “Sex and the City 2.”
Highlights of the Made in NY Incentive Program
Tax Credit – For films and television productions that complete at least 75% of their stage work in New York City.
- 5% refundable tax credit from NY City
- Incentive is based on NY production costs
Marketing Credit – For film and television productions that complete 75% of their work in New York City. Outdoor media valued at 1% of NYC production costs will be offered to participating productions for co-branded advertising related to the “Made in NY” production.
- Bus shelters
- Broadcast on New York City Media Group Assets:
NYC TV (reach: 8 Million Households in tri-state area)
In conjunction with the marketing credit, a Cultural Benefit allows productions to make a cultural donation equal to .1% of their production costs, to a not-for-profit cultural institution of their choice, in exchange for the marketing credit. The donation would be made in the name of talent or an executive associated with the project, and is intended to support the theatrical, film, writing, and other local arts institutions that nurture upcoming talent and strengthen the City’s creative community.
MOFTB Made in NY Incentive Program
Mayor's Office of Film, Theatre & Broadcasting (MOFTB)
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Made in NY Incentive Program
