New York Offers Tax Breaks & Bagels To Movie Producers

[jeffrey]

from money.cnn.com

New York is striking back with better bagels and tax breaks in its fight to keep motion picture production in the Big Apple and stem the flight of the industry to cheaper destinations like Canada.

The lure worked for Mel Brooks, who announced Tuesday that the film version of his Broadway hit musical "The Producers," would become the first major project filmed at Steiner Studios in Brooklyn, a massive complex that has also benefited from subsidies.

Brooks, flanked by politicians and studio executives, said, "without tax breaks, the horrible truth is this movie would have been made in Kabul or wherever the cheapest place in the world was to shoot the movie."

Gov. George Pataki signed a bill that would provide a tax credit of up to 15 percent to film and television companies that complete 75 per cent of a production in New York... Entire Story Here