Updated 07/24/2012 10:06 PM
Incentives aimed at making NY the "film capital of the world"
Could the Empire State be the next filmmaking empire? That's the goal of many officials as a new law is signed Tuesday. Innae Park spoke to one film commissioner who believes there will definitely be a happy ending.
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SCHENECTADY, N.Y. -- If you've been star-struck these past few years, expect to see more bright lights from Hollywood in the Capital Region.
“I think you'll see double or triple that now, if not more,” said Schenectady Film Commissioner Don Rittner.
He and many others in the film industry are elated by the new law signed by Governor Andrew Cuomo Tuesday.
Now in effect, filmmakers can receive a 30 percent tax credit for post-production work on film projects. If the work is done anywhere outside New York City and the commuting area, the credit is bumped up to 35 percent.
“Where we fell short [before] was post-production,” said Rittner. “Because just shooting the movie is one thing. Then you’ve got to edit it, put music to it, all that. And that's a lot of expense as well.”
That boost in post-production incentives will only add onto the savings that can be found upstate. Take "The Place Beyond the Pines," shot in Schenectady just last summer.
Rittner estimated, “’With ‘Pines,’ which was probably a $15 million production, we probably saved them a million dollars in location costs. Plus, 2,000 local people were employed in that job, that movie.”
In a statement, Governor Andrew Cuomo said in part, "There is potential for this industry to make new investments in communities across the state and in doing so, help make New York the television and film capital of the world."
That goal may come even sooner, as film companies are not only expected to shoot their projects and stay to the finish, but post-production firms may decide to put down roots.
“I think you're going to see some of the larger companies, like in New York [City], going, 'Well, maybe we should move up to Schenectady,'” said Rittner.