New York Looking to Push More Tax Credits for the Video Game Industry

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NY Assemblyman John McDonald is pushing a $50 million tax credit program for the video game industry in New York state, and he is hoping that if adopted as part of next year’s budget that it could help grow an industry that has taken hold in downtown Troy and other parts of the Capital Region and wants to grow even more.

On Thursday, McDonald hosted a panel discussion at the Troy Innovation Garage on Fourth Street in downtown Troy to discuss the tax credit plan with local video game executives and academics.

Participants included Velan Studios founder and CEO Karthik Bala as well as Simon Ebejer, the chief operating officer of Vicarious Visions and Ben Chang, director of the Games and Simulation Arts and Sciences program at Rensselaer Polytechnic Institute in Troy.

While trying to sell the public on the need for more business tax breaks is tough, especially when there are indications that the state’s finances are in trouble, Bala and Ebejer especially said that the video game industry has reached in inflection point in the Capital Region where there has been a tremendous amount of investment in the past decade, creating a workforce with several hundred people.

See more at Times Union.

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