N.Y. film tax credit is economic driver

The Empire State’s $420 million production tax credits program, part of the state budget bill lawmakers are considering, has received a shot in the arm. New York comptroller Thomas DiNapoli issued a report Tuesday that credits previous incentive programs with driving $7 billion into the state’s economy from their 2004 launch through 2008. He also credits the program with contributing to the employment of as many as 63,000 people in 2008, double-digit-percentage job creation since the start of the incentives, as much as $5 billion in wages in 2008 and boosting state and local tax coffers.

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