Assemblyman Angelo Santabarbara (D-Rotterdam) announces that the final budget includes an expansion of the Empire State Film Production Tax Credit to include Albany and Schenectady counties. Santabarbara has been fighting to make sure these counties are eligible for the funding since last years state budget was adopted.
An expansion of this incentive for production companies to set roots in Albany and Schenectady counties is a great way to boost the local economy, Assemblyman Angelo Santabarbara said. We already know production companies are interested in our area, and tax credits could be the difference maker between moving here and creating jobs or setting up operations in another state.
Specifically, the budget adds Albany and Schenectady counties to the previously established list of upstate counties eligible for the Empire State Film Production Tax Credit in an attempt to lure more film production companies upstate.
Santabarbara pointed to an announcement in September that an out-of-state entertainment company is considering building a $68 million studio in downtown Schenectady at the former American Locomotive Company as one example that film production companies would jump at the opportunity to move into the region.
Last year, Santabarbara sponsored legislation to include these counties into the Empire State Film Production Tax Credit Program, but after passing both the Assembly and state Senate, the bill was vetoed by Governor Cuomo. In his veto message, the governor indicated that any expansion to the program should be decided in the context of the state budget.
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