Measuring the impact of investments in the NYS film industry.
Empire State Development (ESD) administers the New York State Film Tax Credit Program, a program first established in 2004 and designed to increase the film and television production and post-production industry presence in New York State, and to provide an overall positive impact to the State’s economy. The Program provides tax credit incentives to qualified production companies that produce feature films, television series, television pilots and films for television, and/or incur post-production costs associated with these productions to support the growth of the film industry in New York State.
Camoin Associates was hired by ESD to calculate the economic and fiscal impact of the State’s investment in the program over the years 2013 and 2014. In order to complete this analysis Camoin Associates conducted significant research including a review of existing literature on the topic, industry data collection and analysis, and interviews with experts in the film industry in New York State. The report provides background on the tax credit programs, calculates and analyzes the economic and fiscal impact of the program in NYS, and finally estimates the return on investment (ROI) ratio that compares the annual investment in the credit (amount of credits issued) to the annual income that state and local governments receive (amount of tax revenue generated by the industry).
- Tax credit program analysis
- Data collection and analysis
- Key stakeholder interviews
- Economic and fiscal modeling