Robert De Niro, along with his son Raphael and partner Adam Gordon, have opened Wildflower Studios, a $1 billion, 11-stage New York City complex in Queens. Their main goal is to restore the city to Hollywood status and provide a new level of technology for film production, much of which has been converted into warehouses rather than built-in filming facilities. “We’re trying to help and support the city we love,” Gordon told Bloomberg, adding that he and De Niro are “fourth-generation” New Yorkers.
But they weren’t the only ones choosing to build studios in the area, with more than 100 square kilometers of land also under construction for East End Studios in Queens, a million-square-foot campus for Great Point Studios, the first film studio in Yonkers and Manhattan, Sunset Pier 94 Studios, set to open next year.
Tax credits
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All of this is being preceded by a boom in the entertainment industry, which has been rocked by strikes that have halted production and curtailed projects. But despite the bumpy road ahead, New York producers are trying to move forward and take advantage of the state’s recent increase in tax credits for film and television production.
In 2023, New York Governor Kathy Hochul increased funding from $420 million to $700 million annually, making 30 percent of production expenses deductible, up from 25 percent previously. The move also accelerated the deadline for applying for the credits and provided incentives for shooting upstate. To be eligible for the program, 75 percent must be filmed in the state.
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