Pheffer Supports Tax Rebates For Film Studios
In January of 2005, a 15% city and state tax incentive for these studios was signed into law. The incentive has given an enormous boost to film production in New York, an area that many studios had previously considered too expensive to utilize.
"The film industry brings a vital economic boost to the New York City area. I look forward to enabling the industry to continue to remain an important part of our community," said Pheffer.
In the last year, the incentives, which refund 15% of most production costs, brought $600 million in new film and television business to the city, according to Katherine Oliver, the city's film commissioner.
The Assembly has proposed to increase the funding for these tax incentives in the 2006-2007 budget.
Currently, Kaufman Studios, and Silvercup Studios are located in Queens and Steiner Studios is located in Brooklyn.