Gov. Kathy Hochul offered an array of sweeteners on Tuesday to the New York film and TV tax incentive, as the state looks to combat a sharp decline in production.
Hochul proposed a new $100 million pool for independent films, as well as a 10% bonus on top of the 30% base credit for companies that do at least three big-budget productions in the state.
Production spending in New York is projected to drop 15% since 2019, according to the state’s development office. Applications for the state tax credit are down 53% from the figure five years ago, even as the state nearly doubled the annual cap from
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