Ricky Gervais didn’t flag this particular outrage at the Golden Globes, but Empire State Development Corp. chief Eric Gertler did it the next day: Seven of the winners, all sure to make a good profit for their producers, were subsidized by … you.
Via the state Film Production Credit, the ESD hands $420 million a year in taxpayer cash to companies that film in New York, by far the most generous Hollywood subsidy of any state.
Gov. Andrew Cuomo and other politicians love this giveaway because it lets them hobnob with (and fundraise from) the grandees of Tinseltown. But it’s a rotten deal for the public.
Gertler congratulated the seven winners — including “Joker,” “Marriage Story,” “Succession,” “The Loudest Voice” — while pretending the credit is a big job-creator.
But such calculations assume no one would film here without the bribe, which is plainly untrue — New York’s iconic locations and gorgeous vistas attracted film companies long before the state started showering them with bonus cash. Nor do the folks behind these lavish productions need the money.
Study after study shows that Hollywood subsidies are a loser for taxpayers, the Empire Center’s E.J. McMahon has long noted. A recent one by USC prof Michael Thorn, for example, looked at years of giveaways in four states and found no significant employment gains thanks to the credits. New York’s film industry actually saw lower wage gains as the state ramped up its credits under Cuomo.
Gertler’s bid to win publicity for the tax credit, in other words, was just rubbing salt in New York taxpayers’ wounds.



