In case you missed it, New York continues to grow as a major production hub.
Posted on Monday, October 21, 2019
With recent plans for prominent studios in New York, the city is turning into a production hub in the U.S. film and production industry. Hollywood is no longer the focal point — New York is jumping in on the action.
New York is already home to many film and TV productions such as shows Blacklist, Blue Bloods, The Marvelous Mrs. Maisel, Mr. Robot and feature film The Subject.
Deniro, Lionsgate & more
With increased attention on New York, Robert Deniro and his son are taking part in the wave. Deniro and his son met with investors to check out a property in Astoria, Queens — the future site of their bustling film studio.
In addition to Deniro, Lionsgate plans to launch a production hub in New York. The studio is in a $100 million studio complex just outside of Manhattan in Yonkers. Great Point Capital Management is building the studio.
Credit: Rholland for Variety
"It’s rare to find a studio facility in such a prime New York metropolitan area location, and we look forward to being at the center of film and television production growth in the region," said Lionsgate CEO Jon Feltheimer.
Steiner Studios also built a bustling production facility in Brooklyn. Real estate developer Doug Steiner noticed the potential of the Brooklyn Navy Yard. This growing studio was home to TV productions such as Gotham and Power. Steiner’s plans for growth only continue to develop with the promise of New York.
Credit: Stefano Ukmar for Variety
What’s the fuss about Lionsgate?
The studio will mimick the layout of Lionsgate’s China and Middle east properties with a backlot and on-location space. Construction on the studio should start in November and wrap up fall 2020.
What is the draw of the Big Apple? Aside from prime studio locations, filmmakers flock to New York for the Film Production Tax Credit.
What is the Film Production Tax Credit?
It’s an uncapped 30% tax credit on eligible expenses for New York productions.
Eligible productions are:
- Feature films
- TV pilots
- Episodic series
- TV movies
Eligible services are:
- Craft services
- Technical production
- Makeup and wardrobe
- Designing set
With studios flocking to New York, and the appealing tax credit, it’s no surprise New York is climbing the production ladder.
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