New York film industry promoters oppose tax credit research

Last year, New York state expanded its film tax credit to $700 million a year. The hope was that filmmakers would choose to shoot their films here in New York rather than in Los Angeles, Vancouver or Atlanta.

The problem is that the film tax credit is funded with taxpayer money, and several studies show that the return on this type of investment is not very good. A group of consultants paid by the state to determine whether the tax credit was worth it said it was “at best a balancing proposition and more likely a net cost to the State “.

As the annual Capital Region and Adirondack Film Alliance Day begins in Albany, Capital tonight spoke with two film industry supporters: Tim Clark, film commissioner at the Buffalo Niagara Film Office, and Eric Vinal, vice president of film, television and entertainment at Visit Syracuse.