New Finance Program Should Lead to More Hollywood Stars Filming In The Hudson Valley
A new film finance program is expected to increase the number of movies and T.V. shows filming in the Hudson Valley. This should lead to more Hollywood stars in the area and more jobs.
On Tuesday, Ulster County Executive Mike Hein in partnership with The Bank of Greene County, Catskill Hudson Bank, Ulster Savings Bank and Wallkill Valley Federal Savings & Loan announced the launch of Ulster County’s Film Finance Program.
The program is expected to encourage more movies and television productions to choose Ulster County as their filming location and create more career opportunities for Ulster County’s youth and industry professionals.
“Ulster County is attracting an increasing number of film, media, and television productions and industry professionals,” Ulster County Executive Michael P. Hein said. “Our local businesses associated with the film industry are thriving. We want to build on this momentum and attract more film, media and televisions productions to choose Ulster County as their filming location. Not only that, we want to grow the local film, media and television sector and create good jobs.”
The Ulster County Film Finance Program represents an initial commitment of $8 million for 2018.
“Ulster County has a lot to offer to the industry: unique geographic features, picturesque locations and welcoming communities to host film productions, and three certified sound stages,” Hein said.
The program benefits include:
• Cash advances on distribution contracts with top-tier distributors
• Bridge financing on approved New York State tax credits for bonded productions
• Local bank account and debit cards for qualified production companies
• Favorable loans for property, equipment, capital improvements and lease fit-outs for post-production facilities in Ulster County
"Since the new film tax credits that County Executive Mike Hein spearheaded went into effect in November of 2016, the Hudson Valley Film Commission has seen a 50% increase in film production,” Hudson Valley Film Commission Director Laurent Rejto said. “It’s amazing to work in a county like Ulster that has shown such a commitment to the film and TV industry.”
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