New York City has long been one of the most recognizable backdrops in film and television history. But in recent years, productions have increasingly looked elsewhere, chasing stronger tax credits in states like Georgia or countries like Canada and the UK.
That may be about to change. Earlier this year, Governor Kathy Hochul approved a major expansion of New York State’s film and TV incentives, increasing the program to $800 million annually and adding specific boosts for independent productions.
Here are a few highlights from the updated program:
• Base 30% incentive with regional step-ups.
• New $100 million fund earmarked specifically for indie productions, with faster payout timelines.
• Additional 10% bonus for production companies that shoot at least two projects in New York through 2028 (up to 40% total incentive).
• Removal of the $500,000 cap on above-the-line costs (actors, directors, etc.).
• Lowered eligibility for VFX and animation subsidies.
This expansion is designed to lure both studios and independents back to NYC, with officials calling it a “momentous expansion” that cements New York’s place as a global production hub.
Read the full Deadline article here: https://deadline.com/2025/09/hot-spots-new-york-city-film-tax-incentives...
For producers and financiers, this raises some key questions:
• How will these new incentives affect your budgeting and location strategy?
• Do you see New York becoming competitive again with places like Georgia, Canada, or Eastern Europe?
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Great news for NY production! Helping offset the high expense of shooting in NY and the union crew rates is a massively helpful critical step forward.