New productions in New York City are being held up by the absence of a budget, and with it tax incentives that the state has offered the industry since 2004. The city is has also stopped offering its own tax incentive as the program ran out of money last year and has not yet been renewed.
Ironically, since the recession began, jobs in the industry have actually increased as the film and sound recording industry added 2,300 jobs this year. However, businesses dependent on the industry are worried about a downward slide, as only a handful of new productions chose to shoot in New York City this year as opposed to more than a dozen two years ago.
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