New York City Invests in the Film Industry

 

If you were to ask someone who has little knowledge of the film industry where the major hubs for production are, they would immediately point to Los Angeles or New York as the center of the film industry; however, there are numerous cities that offer tax benefits and other incentives including Atlanta, Austin, and Chicago that compete with or offer more production work than New York and Los Angeles. In response to this, Variety reported that New York City is investing in a new $136 million campus targeting film and TV companies in order to maintain the nearly 385,000 area jobs that the media and entertainment sector provides, which is more than the financial and insurance industries put together. They go on to report that while the city has experienced a forty percent increase in features filmed and a thirteen percent increase in TV production, real estate remains one of the biggest constraints on the growth of production within the city. City administrators hope that this new campus will help support the industry and allow it to continue to grow over the next several years. It is nice seeing New York’s commitment to the film industry¬†and understanding of what needs to be done in order to continue the growth that occurred in 2016.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s