ALBANY – The movie production
industry is expected to grow substantially in the Mid-Hudson Valley now
that Governor Cuomo has sign a measure to expand the tax credit by 10
percent to place it on par with the 40 percent rate which is in effect
in the New York metro region.
“The film industry has brought billions in revenue to the State
of New York,” said primary bill sponsor Assemblywoman Aileen Gunther.
“Expanding it to include the Catskills will enable our communities
to tap into that revenue, while creating jobs and advancing the local
economy.”
Ulster County Executive Michael Hein pushed for the change as a means to bring more film production to the region.
“I can’t tell you how excited I am about the capacity to create an entirely new portion of the economy right here in the Hudson Valley,” he said.
Hein noted the Mid-Hudson “is home to numerous actors, directors, television and media executives who simply want to be able to work where they live and there are also countless aspiring and talented individuals who will benefit.”
Actress Mary Stuart Masterson, a resident of the Mid-Hudson, said she is “over the moon that Governor Cuomo has put his faith in us.”
Hudson Valley Film Commission founder and director Laurent Rejto said the expanded tax credit will level the playing field with other New York regions, states and countries; product revenue opportunities for local vendors; create a steady demand for services and hospitality; and promote the region nationally and internationally.
The City of Middletown already has a large film studio and Mayor Joseph DeStefano said the bigger tax credit “will ensure the studio’s success, bring revenue to local businesses, and continue to revitalize Middletown’s economy.”
A year ago, NYC studio owner Eric Michelson, invited Mayor Joseph DeStefano, right, and Common Council
President
Miguel Rodrigues to the space he is developing for a studio in Middletown
Todd Diorio, president of the Hudson Valley Building and Construction
Trades Council, said the tax credit is “an excellent opportunity
to capitalize on an extraordinary economic development opportunity –
one that benefits unions as well as private sector businesses.”
Ramsay Adams, executive director of Catskill Mountainkeeper, said the
new tax credit “signaled to the filmmaking industry that our region
is open for business. With so many unspoiled locations to choose from
to get the perfect shot and a tax credit that puts us on an even playing
field with the rest of the state, shooting a film in the Hudson Valley
is a no brainer.”
Assembly Members Gunther and Frank Skartados carried the bill in their
house and Senators George Amedore and William Larkin sponsored it in their
house.
