Record-Breaking First Quarter for NY Film Incentive Program

New York's film tax credit program boasted another record-breaking first quarter. There was a significant increase from 2018 in all of the key indicators including number of applications, hires, and estimated spend.

With the tax credit extended to 2024 by Governor Cuomo, we expect these numbers to continue to grow, bringing more jobs and economic growth to the state and local economies. Gina Argento, President and CEO of Broadway Stages, said "New York's booming TV and film production industry creates well-paying jobs each year and the program's extension ensures productions will continue to come to New York and generate revenue for smaller businesses that work with those productions. We are glad that the program has been renewed and look forward to hosting many more productions at our 50+ sound stages around New York City, and creating thousands of meaningful jobs."

Click here to read about the record-breaking first quarter.

Welcome 2019 - 35 Years and Counting!

Where do we begin? 2018 was an exciting ride, and we are taking that momentum into the New Year.

In 2018 Broadway Stages celebrated its 35th anniversary, and we couldn't be prouder. We have evolved from a small music video production company with one sound stage in Astoria, Queens to one of the largest-growing film and television production companies in New York. We are grateful to our staff, our clients, vendors, suppliers, and community organizations that we work with and support – all play a key role in our positive, forward momentum.

We are thankful to the state of New York for its television and film production tax credit program that has played a critical part in drawing production and media companies to the state and securing continued economic growth. This program has enabled us to help meet the growing demands of our industry and put money back into our local and state economy.

As a company with local roots, we understand the needs of our community and the importance of giving back. Through financial, in-kind, and volunteer resources we have actively demonstrated our commitment to being a responsible and caring neighbor. And we take that commitment to the areas where we are expanding, like Staten Island and East New York.

Our approach to business is based on the recognition that it is our responsibility to not only generate economic growth, but also help address the social, educational, and environmental needs of our community. Our commitment to environmental sustainability has enabled us to bring value to our business – one third of our annual electricity consumption is offset by 50,000 square feet of solar panels – and our community – green rooftop wildflowers and farm projects have helped to improve the air and reduce stormwater runoff.  

We feel that this approach results in a win for us, our vendors and suppliers, our neighbors, our clients, our state, and our industry. We are excited to see what 2019 will bring and how we can continue to bring value to our community.

From all of us at Broadway Stages, we wish you a happy, healthy, and prosperous new year.

Broadway Stages Congratulates Crain's New York Business on a Successful Summit

Broadway Stages would like to congratulate Crain's New York Business on successfully hosting its Entertainment Summit. The event recognized New York's extended film and television production tax credit totaling $420 million until 2023.

Presenters and panelists included Howard Zemsky, President CEO and Commissioner of Empire State Development, Matt Dienstag of Lenoble Lumber, Rhoda Glickman of Empire State Development, Thomas O'Donnell of Local 817, and Doug Steiner of Steiner Studios.

The summit provided insightful discussions regarding the current state of New York's film and television industry and the increasingly positive impact that the industry has had on New York's economy. Highlighting upcoming plans to further train employees and increase jobs in the film industry, the Crain's Entertainment Summit is pivotal in bringing together companies in New York's film industry with the common goal of creating jobs and increasing economic output. Once again, congratulations Crain's New York, and we look forward to next year's summit!

New York's Superheroes Are Here to Stay!

Governor Andrew Cuomo recently announced that New York State and Marvel Studios have reached an agreement that will extend Marvel's upcoming original TV show "The Defenders." The show, which follows the story of individual superheroes who join forces to defeat the villainous organization The Hand, will add an additional 75 episodes to the initial 60 episodes already planned to be filmed in New York City.

Additional episodes are not only good news for the film industry and fans but for the New York economy as a whole. The new episodes add to the benefits of New York's state film tax credit for production companies that operate in the state. The tax credit has already helped spur $17 billion of economic activity and helped employ over a million jobs since 2011. The explosion of economic activity in the film industry benefits a wide range of neighbor industries, including clothing and arts. In addition, the production activity also impacts small businesses including local restaurants, which help feed hundreds of people that operate a production everyday. The impacts and benefits of the film industry spread to small and large businesses alike.

With the tax credit to extend until 2022, New York City is sure to maintain a booming film industry and create business for those who service the film industry.

Broadway Stages Contributes to Film Production Record in New York City

Since May 2016, an all-time high of 52 television series were filmed in New York City, in addition to 336 feature film projects. The outstanding growth of 13 percent in television and 40 percent in feature film production since 2015 is due to New York state's $420 million in film production tax credits.

Broadway Stages, Brooklyn's largest full-service film and production company, has helped bring shows like CBS's "Bull," TBS's "The Detour," and the Emmy Award-winning "The Good Wife" to New York City. The production increase has had an undeniably positive impact on the local economy, as film production studios source locally for food and equipment.

Gina Argento, President of Broadway Stages, Encourages Postproduction in New York City

The postproduction industry is a big success in New York City. Compared to the national average of 12 percent growth in postproduction jobs, New York City nearly triples the figure at 35 percent growth in the industry since 2004.

Since the New York State Postproduction Tax Credit Program was introduced in 2010, more than 2,600 new jobs have been created with every job in the postproduction industry creating an average of 2.07 jobs in the U.S. economy. With over $7 million in economic output and $128 million in fiscal impact, the New York State Postproduction Tax Credit not only stimulates the local economy but also develops New York City into a competitive productions location. As Brooklyn's largest full film and productions company, Broadway Stages looks forward to continuing to bring commerce to the New York City economy and creating new jobs.

Broadway Stages Speaks to the Success of the NY Film Tax Credit Program

Broadway Stages is excited to announce that Governor Cuomo has proposed an extension of the New York State Film Tax Credit Program until 2022! The program is essential to strengthening the production industry in New York City while also positively impacting the local economy.

Tony Argento, founder of Broadway Stages, said on behalf of Broadway Stages,

"our deepest gratitude to Governor Cuomo for his support of the film and television industry. Broadway Stages' success, in large part, is due to the governor's foresight in expanding the Film and Television Tax Credit. This tax credit is the engine driving Broadway Stages to rapidly expand, and its continuance will provide for further expansion and creation of thousands of jobs. During Governor Cuomo's stewardship of the state, Broadway Stages, located in Greenpoint Brooklyn, has undergone a renaissance of film and television production. Our studio has grown exponentially from 25 sound stages in 2010 to 44 sound stages in 2017, expanding to 1.5 million square feet."