Connect with us

Hi, what are you looking for?

Broadway

New York Governor Announces $100 Million Musical & Theatrical Production Tax Credit

NOTE: This article is 2 years old and may not include the most recent information.

The governor of New York has announced a new tax credit for musical and theatrical productions. Andrew Cuomo has revealed that the new program will help revitalize the theatrical industry that has been greatly affected by COVID according to a report from broadway.com.

The program will offset some of the costs associated with producing a show, including production costs for sets, costumes, wardrobes, makeup, technical support, salaries, sound, lighting and staging. Eligible companies can receive tax credits of 25 percent of qualified production expenditures. First-year program applicants can receive up to $3 million per production, with second-year applications being eligible for up to $1.5 million. All program participants will be required to take part in a New York State diversity and arts job training program and expand opportunities for low-income New Yorkers to access productions at low or no-cost. To continue supporting the arts, highly profitable participating productions will increase access to art and cultural programs by contributing to a cultural access fund overseen by the New York State Council on the Arts.

“Governor Cuomo’s support of Broadway during the pandemic has been vital to the industry’s survival. His announcement comes at a perfect moment for New York,” Broadway League President Charlotte St. Martin said in a statement. “This unprecedented initiative will increase access to Broadway shows for New York State residents and create new career pathways in our industry. We’re gratified for the Governor’s enthusiastic support of Broadway and investment in the industry’s workforce, which are so vital to the economic and cultural health of New York State.”

Written By

I've been covering the entertainment industry, from tv to movies to music, independently under the Trevor Decker News banner since 2015.

Trending

Television

As a streaming giant, Netflix is always looking for ways to keep its subscribers engaged and attract new ones. Unfortunately, this often means canceling...

Music

Sofia the First is a beloved Disney Junior animated series that premiered in 2013. The show follows the adventures of a young girl named...

Television

Drew Barrymore has always been known for her acting abilities, but now she has added a new skill to her arsenal: dancing like a...

RIP

Cindy Williams, known for her role as Shirley Feeney in the hit TV show Laverne & Shirley, has passed away at the age of...

Movies

The nominations for the 2023 Academy Awards were just announced and among the nominees is actor Austin Butler. He received a nomination for Best...

Music

The Moroccan Lounge in LA is set to host a night of raw talent and emotion, as rising female artist, Mckenna Grace, announces her...

Television

The nostalgia for the 1990s is alive and well, as evidenced by the success of the new Netflix series, That ’90s Show. The show,...

RIP

It is with great sadness that we report the passing of Lisa Loring, the actress best known for her role as Wednesday Addams in...

Television

Emma Myers, the actress who portrays Enid Sinclair in the hit Netflix series “Wednesday”, has given her take on the possibility of a romance...

RIP

Jenna Ortega, who brings Wednesday Addams to life in Netflix “Wednesday”, has paid tribute to the original Wednesday Addams, Lisa Loring. Lisa passed away...

Advertisement

You cannot copy content of this page