With the magic of movies and television, people all over the world are familiar with the landmarks of New York State, whether it’s the soaring towers of the Manhattan skyline or the natural wonder of Niagara Falls. But creating a movie or television show isn’t just about pointing a camera and filming. Once a production has completed its principal photography, it then goes into post-production work. This is when New York State can continue to benefit.
In 2012, Governor Cuomo signed a bill increasing the tax credit for production studio that contract to have post-production work completed in New York State. Originally only a 10% tax credit, it was enhanced to 30%, with an additional 5% credit available for post-production costs incurred in upstate New York. The Post Production Tax Credit is available where the project was filmed predominantly outside of the State and the film production company contracts their post-production work to companies in NYS specializing in post-production work. The tax credit is also fully refundable.
Enhancing the tax credit to 35% for upstate NY offers a great opportunity for Buffalo Niagara businesses in musical composition, music rerecording and mixing, visual effects, graphic design, animation and sound editorial to capture work in this industry. It will also attract post-production facilities to expand in the region to take advantage of the low cost of doing business in Buffalo, as we offer affordable real estate options, a highly educated workforce, proximity to major film production markets in New York and Toronto and an advanced telecommunications infrastructure to stay connected with those areas. In addition, Daemen College now offers a unique Visual Effects Certificate Training Program to help students enter the growing visual effects/post production industry workforce in Western New York.
The Buffalo Niagara region has already seen the establishment of a new post-production facility in the City of Buffalo when Empire Visual Effects opened its studio in July 2013. With the pledge to create 150 new visual effects and other post production jobs within five years, it will pave the way for the creation of a new post-production and visual effects industry in the Buffalo Niagara region.
To learn more about the Post-Production Tax Credit, please visit NY Loves Film.
by Lorrie Abounader, Business Development Manager