BUFFALO, N.Y. — New York State is dramatically increasing its film tax credit from $420 million a year up to $700 million.
The extra funding was in the recently-passed budget.
The credit goes from 25-percent up to 30-percent, which will make New York more competitive with other states trying to lure productions. There's also a 10-percent bonus for Upstate shoots to sweeten the pot even more than what films and shows would get in New York City.
These new tax incentives will help places like Buffalo FilmWorks get more movies to shoot here in Western New York.
With the state opening up hundreds of millions of dollars in additional tax incentives to the film industry, Western New York film industry insiders are optimistic.
"The true bump in Buffalo is going to be 40-percent in Upstate New York, so it's going to allow us to compete with other states like Georgia and New Jersey who we have been losing films to consistently throughout the past couple of years," says Jennifer O'Neill, Member Partner at Buffalo FilmWorks.
Jennifer O'Neill with Buffalo FilmWorks says this will be good for the economy.
"It's been pretty difficult seeing all the production leaving New York. You know, even the city has been seeing it a lot. All of the productions are going over across the river to New Jersey, and I know a lot of the working crew in New York have been seeing it, too. There's a lot of people in the film industry right now that are located in New York that are either unemployed or they have to leave their families to go to work because they can't get any jobs here in New York State," said Jennifer O'Neill.
On Friday, a group of unions representing film and TV workers issued a statement applauding the changes saying that in 2019 and 2020, film productions brought more than 114,000 direct and indirect jobs to the state.
Buffalo Niagara Film Commissioner Tim Clark thinks it's all worth it.
"What would you say to people who are like, oh, why are you giving Hollywood a tax break?" asked 2 On Your Side's Kelly Dudzik.
"Yeah, that's always this weird thing that comes up and it is controversial indeed, but the benefits really work in Western New York. You know, I'm not sure if it, about New York City where so much is being shot, but I'll tell you, it's very tangible here. You see, you know, people who never thought they'd be working in this kind of industry in this sort of town and they're making a living and going home every night and putting their head on this pillows," said Tim Clark, Buffalo Niagara Film Commissioner.