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Andrew Cuomo OKs tax breaks for film, entertainment business

Gov. Andrew M. Cuomo has signed a bill

Gov. Andrew M. Cuomo has signed a bill into law tripling the tax credits available to companies specializing in postproduction, including film editing, visual effects, color correction, and sound editing and mixing. (March 27, 2012) Credit: AP

New York State is already a destination for shooting films and television series. Now it hopes to become a center of postproduction work.

Gov. Andrew M. Cuomo has signed a bill into law tripling the tax credits available to companies specializing in postproduction, including film editing, visual effects, color correction, and sound editing and mixing.

The law, which takes effect immediately, provides a 30 percent tax credit for work done on Long Island, in New York City and the lower Hudson Valley. A 35 percent credit is available upstate.

The state established a tax-credit program for postproduction in 2010. However, the 10 percent credit has attracted only 19 applicants.

"New York State's program of incentives to attract film and television productions . . . has been a tremendous success," Cuomo said. "However, there is potential for this industry to make new investments."

He said 727 movie and TV projects have committed to shooting in the state since the tax credit program began in 2004, but most did not do postproduction work here. The projects' combined economic impact is $11.3 billion and more than 522,000 temporary jobs, Cuomo said.

Long Island has been a destination for filmmakers for decades. Recently, for instance, scenes from "Men in Black 3" were shot at Robert Moses State Park.

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