EMPIRE STATE DEVELOPMENT (ESD) TAX CREDITS & INCENTIVES
New York State offers tax credits and incentives to help businesses invest in their workforce, locate in strategic areas and improve their facilities. These tax credits and incentives are designed to benefit small or expanding businesses as well as film and tv production companies.
The Life Sciences Research and Development Tax Credit Program is designed to support new life sciences businesses locating, inventing, commercializing, and producing in New York State.
The Employee Training Incentive Program provides refundable tax credits to New York State employers for skills training that upgrades or improves the productivity of their employees. Businesses can also receive tax credits for approved internship programs that provide training in advanced technology, life sciences, software development or clean energy.
The New York State Commercial Tax Credit Program is designed to increase the production of commercial filming in New York State (“NYS”). Credits of up to $7 million per year can be allocated to encourage qualified production companies to produce commercials in NYS and help create and maintain jobs.
The New York State Film Tax Credit Program (Production) is designed to strengthen the film production industry in New York State and its positive impact on the State’s economy. To encourage film companies to film in New York, productions which comply with requirements may be eligible for a tax credit of 30% percent of qualified production expenses.
The New York State Post-Production Tax Credit Program is designed to strengthen the post-production industry in New York State and its positive impact on the state’s economy. Production companies may be eligible to receive a fully refundable credit of 30% of qualified post-production costs incurred in New York State (NYS).
The Brownfield Cleanup Program (BCP) encourages private-sector cleanup and redevelopment of brownfield sites across New York State as a means to revitalize economically and environmentally blighted communities. The BCP is an alternative to greenfield development and provides incentives such as liability relief and tax credits.