Mel Brooks is one of the first producers to announce that he’ll take advantage of new city and state tax breaks given by New York legislators to film and TV projects that spend 75 percent of their production budgets on eligible soundstages. Brooks announced in late September that he would begin shooting The Producers: The Movie Musical this fall at the newly built Steiner Studios in Brooklyn.
With Brooks and studio Chairman Donald Steiner on hand, Governor George Pataki signed the state legislation into law at the sprawling Brooklyn Navy Yard studios. Politicians are aiming to close the gap between shooting in Canada and New York City, whose production economy Mayor Michael Bloomberg puts at $5 billion a year.
The Empire State Film Production Credit Program gives producers a tax break of 10 percent if they locate on stages of at least 7,000 square feet throughout the five boroughs. If their facilities-related costs are under $3 million, productions must shoot at least 75 percent of location days in the city to qualify. Most below-the-line items are covered, but not script, story, or salaries for above-the-line talent. The state will cap credits at $25 million a year, but will push unused surpluses forward into the next year. (For more information, visit www.nylovesfilm.com.)
Furthermore, the Made in NY Incentive Program promises a 5 percent tax credit to projects that work on eligible New York City stages and a series of marketing credits making city-owned outdoor media spaces available for promoting qualifying Made in New York City productions.
Steiner Studios, New York’s first gated studio complex, was built to accommodate large motion picture sets and has already benefited from $28 million in infrastructure improvements made to the surrounding Brooklyn Navy Yards.