Film productions participating in New York State’s Post-Production Tax Credit program have spent more than $500 million—a milestone that encompasses post spending from July 2012 through to the end of 2017. In 2012, the Governor tripled the post-production credit from 10 percent to 30 percent Downstate, with additional savings of up to 45 percent in most Upstate counties.
In 2017, 84 projects applied to the post program, representing some $106.8 million in estimated spending and more than 1,000 direct hires. In 2011, before the changes went into effect, the post program attracted only eight projects with a total New York spend of $16.5 million. Compared to 2017, that represents an increase of 950 percent in projects and 523 percent in estimated spend since 2011.
Click here to read the full story on the State Film Commission’s Tumblr account.