Governor signs film tax credit bill to benefit area

Gov. Andrew Cuomo signed legislation offering a 40 percent tax credit to filmmakers who shoot movies in the region.

Gov. Andrew Cuomo signed legislation allowing Ulster and several surrounding counties to offer an additional 10 percent tax credit to filmmakers who shoot movies in those areas.

The 40 percent credit already is available in New York City and 84 percent of upstate counties. Ulster, Dutchess, Orange, Sullivan, Greene and seven other counties, however, had been limited to offering tax credits of 30 percent to filmmakers prior to the legislation being signed Friday.

The credits help offset the cost of film production.

“This film tax credit is integral to further expanding our creative economy, leveling the playing field among upstate counties and creating high-quality film industry jobs right here in Ulster County,” Ulster County Executive Michael Hein said in a statement Friday evening.

Hein said Cuomo, in signing the bill, “recognizes the economic importance of the entertainment industry in New York state.”

Laurent Rejto, director of the Hudson Valley Film Commission, said in a statement that “film and TV production brings a contemporary, clean and socially responsible industry to the region and offers economic opportunities, increased living standards and creates stronger communities ...”

In a separate press re-

lease, the Hudson Valley Film Commission stated it was “overjoyed” with the legislation being signed.

The commission said the additional incentive places no additional burden on the existing state Film Tax Credit Program and allows the Mid-Hudson region to complete on a level playing field with other regions; produce revenue opportunities for local vendors; create a steady demand for services and hospitality; promote the region around the globe; increase opportunities for industry members and youth; create more regional opportunities for industry union members; and generate infrastructure investments locally.

Actress, director, producer and Hudson Valley resident Mary Stuart Masterson said in a statement she was “over the moon that Governor Cuomo has put his faith in us.”

“With this added 10 percent bump in the film tax credit, the Mid-Hudson Valley will be a goto location for series television and film production,” she said.

“We have the locations, the talent, the workforce, and the amenities producers want when choosing where to base their productions.

“Now, they also have the economic incentive to say ‘yes’ to the Mid-Hudson Valley.”

State Sen. George Amedore, R-Rotterdam, said the expanded tax credit would take effect immediately.

He said too many counties had been shut out of the program prior to the expansion.

“By extending the film tax credit, we are leveling the playing field and will ensure that more counties — particularly in the Capital Region and the Hudson Valley — can take advantage of and benefit from this program,” Amedore said. He said the tax credits would ultimately benefit the local economies.

The state Legislature passed the legislation this past spring.