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Thursday, April 18, 2019

NY Film Tax Incentive really works....



This is why I keep telling you guys that the NY Film Tax Incentive is important. The business just keeps getting bigger and bringing in more and more jobs. Click here to read what the Tax Incentive is.

From Variety

Netflix plans to open a new production and office facility in Manhattan — which will provide up to $100 million in investments to New York City and result in hundreds of new jobs, according to New York State Gov. Andrew M. Cuomo.
Netflix’s new corporate offices in the Big Apple will take up 100,000 square feet at 888 Broadway in Manhattan’s Flatiron District. The offices will house 127 new executive employees in NYC that Netflix plans to hire by 2024 — including content acquisition, development, production, legal, publicity and marketing positions — in addition to the company’s 32 current New York-based employees.nder the deal with Netflix, Empire State Development — the state’s economic development agency — has offered up to $4 million in performance-based tax credits over 10 years, which are directly tied to job creation. 
To receive the full incentive, Netflix must create the 127 jobs by 2024 at its new executive production office and then retain those new jobs (and their existing 32 office jobs) for another five years.
In addition, Netflix has leased approximately 161,000 square feet to build six sound stages and support spaces at 333 Johnson Ave. in Brooklyn. Those are expected to house thousands of production jobs within five years, according to state officials.
Jason Hariton, Netflix’s director of worldwide studio operations and real estate, said in a statement, “New York has created a film-friendly environment that’s home to some of the best creative and executive talent in the world, and we’re excited to provide a place for them at Netflix with our production hub.”
Read more here.

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