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Mayor to boost tax incentives

Bloomberg extends tax initiative to 2011

The Made in NY program is about to expand.

At a press conference Wednesday held on location at the Weinstein Co.’s “The Nanny Diaries,” Mayor Michael R. Bloomberg unveiled long-term plans to boost Gotham’s tax incentives by setting aside city financing of $30 million each year for the initiative, as well as extending the program through 2011.

Previously, $12.5 million a year was allocated by the city, with the program due to expire in 2008.

In March the city reached the $50 million ceiling that was originally allocated to Made in NY, sparking doubts as to whether the program would continue. But standing alongside Harvey Weinstein as well as Film, Theater and Broadcasting commissioner Katherine Oliver and three city councilors, the mayor gave his full support for the continuation of the program, emphasizing the $1.5 billion impact the initiative has had on the local economy.

The program has virtually doubled lensing in the city; in 2005, 250 films and 100 television productions were shot across New York.

Weinstein also feted the impact of the incentives, noting there was no doubt that “Diaries” would have lensed in Canada had it not been for the tax cuts. “This is one of the best things any government has done for its economy,” he said.

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