New York Trims Production Tax Break to Fund Job Diversity

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Companies producing TV shows and films in New York State will pay a little more in taxes so the money can be used to insure that more jobs created by those productions go to a diverse array of New Yorkers.

Governor Andrew Cuomo announced that participants in the New York State Film Production and Post-Production Tax Credit Programs will see a “small reduction” in their tax credit, with the extra money going to a fund for job training and workforce development in the entertainment industry.

The fund will initially provide a little over a million dollars per year for that training and development. It was created as part of a capital spending bill.

“The fund will ensure that the jobs related to the growth of New York’s entertainment industry are filled by New Yorkers who represent the diverse nature of New York State,” said Cuomo’s office.

Empire State Development (ESD) is charged with creating regulations to establish and administer the fund and associated program, with input from the entertainment industry. See more at BroadcastingCable.com

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