Bloomberg touts film, TV impact on economy

October 20, 2008 Mayor Michael Bloomberg on Monday touted the importance of the film and TV sectors as well as tax incentives to New York's economy, particularly amid an economic downturn. "The television and film industry is essential to diversifying New York's economy," Bloomberg said during the groundbreaking ceremony for Kaufman-Astoria Studios' Stage K, adding that the combined 35% tax credit for production costs offered by New York City and New York state is key to keeping productions here. Bloomberg also argued that Kaufman-Astoria is an example of how entertainment production facilities can energize whole neighborhoods.

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