ALEX ZABLOCKI, CANDIDATE FOR PUBLIC ADVOCATE, CALLS FOR THE 5% FILM AND TV PRODUCTION TAX CREDIT PROGRAM IN NYC TO BE LEFT AS-IS
Zablocki calls Senate Bill 5674 “job killing” and urges industry leaders to fight to keep the credit at 5% in New York City; Zablocki asks "Why fix what isn't broken?"
New York – Alex
Zablocki, Republican
candidate for Public
Advocate, called on
the State
Legislature to leave
the City of New
York’s Film and
Television
Production Tax
Credit program
as-is. The credit
currently offers a
5% tax credit for
qualified production
costs for film and
television
production in New
York City.
State Senator Eric Schneiderman recently submitted Senate Bill 5674 which would reduce the credit to 4% for qualified production costs in New York City and completely start to phase out the credit three years after the start of a shows production. The legislation would also impose a per production cap of $250,000 per motion picture or television episode and retroactively apply the proposed cuts and limitations to projects already in production.
Alex Zablocki said: “This job killing bill will only force shows already in production here to places like Canada or California. New York City recently lost the show “The Fringe” because of the problems with the State film and television tax credit. The industry doesn’t need to see an exodus of more shows out of our state. The last thing New York City needs is to lose more jobs during these hard economic times and create uncertainty for people wanting to do business here. This program is vital to our local economy. Why fix what isn't broken?”
According to reports, the film tax credit has created over 30,000 jobs in New York and the program pays for itself.
Alex Zablocki said: “Both the State and City tax credit program do not expense money until after production is completed. By the time production is completed, both New York City and New York State have already reaped the benefits of increased economic activity and tax receipts. This unique program pays for itself and the credit should not be reduced.”
Alex Zablocki said: “As Public Advocate, I will fight to keep sensible tax credit programs funded and will seek to work with the Mayor, City Council and State Legislature to devise new tax credit programs to create new jobs and support business across the five boroughs.”
Earlier this year, Alex Zablocki lead the effort to collect over 14,500 petition signatures to save the Empire State Film and TV Production Tax Credit program. These efforts successfully led to the funding of the State program for one year, which offers a 30% tax credit for qualified production costs in New York State. Over 30,000 jobs were created because of the program, according to an Ernst and Young report for New York State, and the program made money for taxpayers and paid for itself. New York City’s credit is said to bring in $6 in revenue for taxpayers for every $1 in issued credits. According to the Motion Picture Association, almost all film production in New York State occurs in New York City and the industry brought about $2.3 billion in economic activity to the City in 2008. Alex Zablocki setup a section on his campaign website to work on this issue at www.alex2009.com/actioncen
Alex Zablocki is the youngest candidate in New York City’s history to run for Public Advocate. Alex has the unanimous support and endorsement of all five Republican County organizations. More information about Alex and his campaign can be found at www.alex2009.com or by calling 718-734-1093.
State Senator Eric Schneiderman recently submitted Senate Bill 5674 which would reduce the credit to 4% for qualified production costs in New York City and completely start to phase out the credit three years after the start of a shows production. The legislation would also impose a per production cap of $250,000 per motion picture or television episode and retroactively apply the proposed cuts and limitations to projects already in production.
Alex Zablocki said: “This job killing bill will only force shows already in production here to places like Canada or California. New York City recently lost the show “The Fringe” because of the problems with the State film and television tax credit. The industry doesn’t need to see an exodus of more shows out of our state. The last thing New York City needs is to lose more jobs during these hard economic times and create uncertainty for people wanting to do business here. This program is vital to our local economy. Why fix what isn't broken?”
According to reports, the film tax credit has created over 30,000 jobs in New York and the program pays for itself.
Alex Zablocki said: “Both the State and City tax credit program do not expense money until after production is completed. By the time production is completed, both New York City and New York State have already reaped the benefits of increased economic activity and tax receipts. This unique program pays for itself and the credit should not be reduced.”
Alex Zablocki said: “As Public Advocate, I will fight to keep sensible tax credit programs funded and will seek to work with the Mayor, City Council and State Legislature to devise new tax credit programs to create new jobs and support business across the five boroughs.”
Earlier this year, Alex Zablocki lead the effort to collect over 14,500 petition signatures to save the Empire State Film and TV Production Tax Credit program. These efforts successfully led to the funding of the State program for one year, which offers a 30% tax credit for qualified production costs in New York State. Over 30,000 jobs were created because of the program, according to an Ernst and Young report for New York State, and the program made money for taxpayers and paid for itself. New York City’s credit is said to bring in $6 in revenue for taxpayers for every $1 in issued credits. According to the Motion Picture Association, almost all film production in New York State occurs in New York City and the industry brought about $2.3 billion in economic activity to the City in 2008. Alex Zablocki setup a section on his campaign website to work on this issue at www.alex2009.com/actioncen
Alex Zablocki is the youngest candidate in New York City’s history to run for Public Advocate. Alex has the unanimous support and endorsement of all five Republican County organizations. More information about Alex and his campaign can be found at www.alex2009.com or by calling 718-734-1093.
