Skip to Content
Author: The BCW

BCW Defends Value of Film and TV Tax Credits

In a recent letter to the editor published in Crain’s New York Business, BCW Executive Vice President John Ravitz passionately defended New York’s film and television tax credits. Responding to a critical study of the tax credit program, Ravitz highlighted the significant and ongoing benefits it brings to the state’s economy.

Ravitz emphasized the pivotal role of the tax credits in attracting and retaining film production facilities, positioning New York as a leading destination for the industry nationwide. Citing examples from Westchester County, he pointed to the transformation of Yonkers into “Hollywood-on-Hudson,” attributing it to the incentives driving the opening of state-of-the-art production facilities and creating hundreds of jobs.

Beyond job creation, Ravitz underscored the broader socio-economic impact, noting how these investments stimulate local businesses and provide educational opportunities for disadvantaged youth. Highlighting collaborations with public schools to establish media arts programs, he showcased the program’s capacity to uplift communities and foster economic growth. In partnership with the Yonkers Public Schools, Great Point is opening a media arts high school that will allow some of the most economically disadvantaged young people in Westchester the option to attend college or learn skills that will enable them to be hired for high-paying film production jobs straight out of high school.

Ravitz concluded by affirming that the surge in economic activity, including increased tax revenues and workforce development, is directly attributable to the state’s incentive program, emphasizing its indispensable role in driving New York’s film production industry forward.

Similar News Items

More than 450 from business, not-for-profits and government were on hand Tuesday evening for the Business Council of Westchester’s Annual Hall of Fame Awards Dinner. This year’s program, which was held at the Glen Island Harbour Club in New Rochelle, honored business leaders and organizations who have transformed their industries and added to the economic […]

Read Article

Artificial intelligence, or AI, is impacting virtually every industry, offering opportunities to transform business as usual. Understanding the technology and how best to leverage its potential in real estate was the topic of a recent in-depth forum hosted by Fordham University’s School of Professional and Continuing Studies and The Business Council of Westchester. “Revolutionizing Real […]

Read Article

In a big boost for the City of Yonkers, the owners of Ridge Hill held a groundbreaking this week for the launch of a major redevelopment plan. “It’s good to see a company like North American Properties that has the ability to run shopping centers with the success they’ve had in this changing retail market,” […]

Read Article

Become A Member

Join the county’s largest and most influential business organization today.

The Business Council of Westchester is committed to helping businesses market, learn, advocate, and grow. Over 80 events and programs are offered every year, giving our members ample opportunity to connect and meet with businesses representatives in the Westchester community and beyond.
Back to top