New York -- Actors, producers and union representatives will speak out against New Jersey's plans to eliminate the state's production tax credit program at a hearing Wednesday.
Facing a big budget deficit, Gov. Chris Christie has proposed ending the $10 million annual program as of the beginning of the state's new fiscal year on July 1.
But industry folks highlight an increase in productions and entertainment industry jobs created since the launch of the incentives for film, TV and digital media projects.
Wednesday's hearing comes as New York state legislators continue to argue over their state's budget proposal, which includes $420 million in annual production incentives over five years, but has been held up by political conflict. N.Y. Gov. David Paterson in his budget bill listed the production incentives program as a key revenue generator as the credits have shown to boost tax revenue well ahead of any state outlays.
The New...
Facing a big budget deficit, Gov. Chris Christie has proposed ending the $10 million annual program as of the beginning of the state's new fiscal year on July 1.
But industry folks highlight an increase in productions and entertainment industry jobs created since the launch of the incentives for film, TV and digital media projects.
Wednesday's hearing comes as New York state legislators continue to argue over their state's budget proposal, which includes $420 million in annual production incentives over five years, but has been held up by political conflict. N.Y. Gov. David Paterson in his budget bill listed the production incentives program as a key revenue generator as the credits have shown to boost tax revenue well ahead of any state outlays.
The New...
- 6/8/2010
- by By Georg Szalai
- The Hollywood Reporter - Movie News
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