Comments on: City’s film boom may be at state’s expense http://www.cityandstateny.com/citys-film-boom-states-expense/ Politics. Policy. Personalities. Mon, 25 Mar 2013 20:23:00 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: Morning Read: Stop-And-Frisk Pressure; Gay Marriage Banned In NC; Obama Absorbs Cuomo Glow | Politicker http://www.cityandstateny.com/citys-film-boom-states-expense/#comment-4382 Morning Read: Stop-And-Frisk Pressure; Gay Marriage Banned In NC; Obama Absorbs Cuomo Glow | Politicker Mon, 14 May 2012 12:57:43 +0000 http://www.cityandstateny.com/?p=27231#comment-4382 [...] The city’s boom in TV and film production is financed largely by tax credits at the state.  [...] [...] The city’s boom in TV and film production is financed largely by tax credits at the state.  [...]

]]> By: Watch The Press Conduct A ‘Sting Operation’ to Get Bloomberg to Host SNL [Video] | Politicker http://www.cityandstateny.com/citys-film-boom-states-expense/#comment-4381 Watch The Press Conduct A ‘Sting Operation’ to Get Bloomberg to Host SNL [Video] | Politicker Mon, 14 May 2012 12:57:26 +0000 http://www.cityandstateny.com/?p=27231#comment-4381 [...] asked him if he’d be willing to host Saturday Night Live at his press conference yesterday on media industry growth, held on the set of the show. “That’s why we’re in trouble here, it really [...] [...] asked him if he’d be willing to host Saturday Night Live at his press conference yesterday on media industry growth, held on the set of the show. “That’s why we’re in trouble here, it really [...]

]]> By: Marc H. Rosenbaum http://www.cityandstateny.com/citys-film-boom-states-expense/#comment-4146 Marc H. Rosenbaum Wed, 09 May 2012 16:58:32 +0000 http://www.cityandstateny.com/?p=27231#comment-4146 Mr. Lentz, surprisingly, fails to reference the Ernst & Young report commissioned by the New York State approximately 3 or 4 years ago that concluded that for every dollar of tax credit given to the film and television industries by New York State, the State and City of New York received in return $1.92 in tax revenue. After the report was issued, New York State continued to resist putting the tax credits into effect, with Governor Paterson even opining that New York State couldn't afford to give the credit. He obviously didn't comprehend that the credit could only be used approximately 18 months after the production company had already spent the money in New York State that would entitle the production company to the delayed credit. Thus, New York State was never out-of-pocket. Ironically,and almost comically, while New York was effectively ignoring the findings of the E&Y report, California used the very same report that New York had commissioned and paid for as the basis for passing its own $500,000,000 tax credit law. The California law was dubbed "The Ugly Betty Law" as a reminder that Los Angeles had lost the production of the Ugly Betty TV series to Queens, NY because, at the time of the loss,New York offered a more generous tax credit program than did California. Moreover, when New York failed to act on the E&Y report, New York City lost the highly successful and profitable production of the TV series "Fringe" to Vancouver, Canada. In another bit of irony, back in the late 1990s, when New York's film and television industries (including both the talent and the technical side; read "unions") were relying on a few soap operas and Dick Wolf's Law & Order franchise to keep at least a few people working, and Steiner Studios (where Boardwalk Empire is now shot) was in the planning and early construction stages, those of us involved in the attempt to bring the film and TV industries back to life in New York would tell each other that we would know we were successful when, instead of Toronto or other cities being "dressed" to look like New York in a film or TV series, New York was being "dressed" to look like Toronto or some other city. Low and behold, when "Fringe" was being shot in New York, places such as the Brooklyn Navy Yard were being dressed to substitute for Boston, where Fringe supposedly took place. Finally,the question from Mr. Tannenwald of Brandeis University that Mr. Lentz quotes ("The key is, what would New York State's employment and income have looked like had the money spent over several years on film tax credits been used instead to keep teachers in classrooms, firefighters in our firehoused, cops on the street and clinics open. What would the bottom line have been if that had been the case?) is a patently flawed question. As we know from empirical evidence, when the tax credit program was on hold, New York lost the productions and with them, the tax revenues. The productions only returned when the program was put back into effect. Thus, without the tax credits, there would have been no revenues at all to be used for more teachers, firefighters, police, etc. It's only when you give a tax credit for $1 that you get $1.92 back. And, again, you're never out-of-pocket the $1 since that tax credit cannot be used unless the production company has already spent the money that produces the $1.92 in tax revenue. It's actually quite simply, No Tax Revenue At All Without A Tax Credit Program In Place. Marc H.Rosenbaum (former Pres. & CEO of the Brooklyn Navy Yard Development Corp.) Mr. Lentz, surprisingly, fails to reference the Ernst & Young report commissioned by the New York State approximately 3 or 4 years ago that concluded that for every dollar of tax credit given to the film and television industries by New York State, the State and City of New York received in return $1.92 in tax revenue. After the report was issued, New York State continued to resist putting the tax credits into effect, with Governor Paterson even opining that New York State couldn’t afford to give the credit. He obviously didn’t comprehend that the credit could only be used approximately 18 months after the production company had already spent the money in New York State that would entitle the production company to the delayed credit. Thus, New York State was never out-of-pocket. Ironically,and almost comically, while New York was effectively ignoring the findings of the E&Y report, California used the very same report that New York had commissioned and paid for as the basis for passing its own $500,000,000 tax credit law. The California law was dubbed “The Ugly Betty Law” as a reminder that Los Angeles had lost the production of the Ugly Betty TV series to Queens, NY because, at the time of the loss,New York offered a more generous tax credit program than did California. Moreover, when New York failed to act on the E&Y report, New York City lost the highly successful and profitable production of the TV series “Fringe” to Vancouver, Canada. In another bit of irony, back in the late 1990s, when New York’s film and television industries (including both the talent and the technical side; read “unions”) were relying on a few soap operas and Dick Wolf’s Law & Order franchise to keep at least a few people working, and Steiner Studios (where Boardwalk Empire is now shot) was in the planning and early construction stages, those of us involved in the attempt to bring the film and TV industries back to life in New York would tell each other that we would know we were successful when, instead of Toronto or other cities being “dressed” to look like New York in a film or TV series, New York was being “dressed” to look like Toronto or some other city. Low and behold, when “Fringe” was being shot in New York, places such as the Brooklyn Navy Yard were being dressed to substitute for Boston, where Fringe supposedly took place. Finally,the question from Mr. Tannenwald of Brandeis University that Mr. Lentz quotes (“The key is, what would New York State’s employment and income have looked like had the money spent over several years on film tax credits been used instead to keep teachers in classrooms, firefighters in our firehoused, cops on the street and clinics open. What would the bottom line have been if that had been the case?) is a patently flawed question. As we know from empirical evidence, when the tax credit program was on hold, New York lost the productions and with them, the tax revenues. The productions only returned when the program was put back into effect. Thus, without the tax credits, there would have been no revenues at all to be used for more teachers, firefighters, police, etc. It’s only when you give a tax credit for $1 that you get $1.92 back. And, again, you’re never out-of-pocket the $1 since that tax credit cannot be used unless the production company has already spent the money that produces the $1.92 in tax revenue. It’s actually quite simply, No Tax Revenue At All Without A Tax Credit Program In Place.

Marc H.Rosenbaum
(former Pres. & CEO of the Brooklyn Navy Yard Development Corp.)

]]> By: City's Film Boom May Be at State's Expense http://www.cityandstateny.com/citys-film-boom-states-expense/#comment-4144 City's Film Boom May Be at State's Expense Wed, 09 May 2012 14:36:54 +0000 http://www.cityandstateny.com/?p=27231#comment-4144 [...] To read the full article at City & State click here. [...] [...] To read the full article at City & State click here. [...]

]]> By: Alexander Hagan http://www.cityandstateny.com/citys-film-boom-states-expense/#comment-4139 Alexander Hagan Wed, 09 May 2012 10:59:31 +0000 http://www.cityandstateny.com/?p=27231#comment-4139 Kudos to Mayor Bloomberg and his TV and Film Commissioner, Katherine Oliver. GREAT WORK! Kudos to Mayor Bloomberg and his TV and Film Commissioner, Katherine Oliver. GREAT WORK!

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