It's Your Money: Questions over Hollywood tax breaks
Posted at: 05/01/2013 5:25 PM
| Updated at: 05/01/2013 6:37 PM
By: Ray Levato | WHEC.com
It's been creating quite a buzz across our area as Hollywood makes a stop in Rochester.
The Amazing Spider-Man movie continued its filming in Rochester Wednesday. News10NBC had a front row seat to some of the excitement. East Avenue between Scio and Main Street was closed down for crews to film some scenes from the movie. It's right outside our window at the station.
As an incentive to get movies like the Amazing Spider-Man 2 in New York, the state hands out some major tax breaks. That has a lot of people wondering if that money could be better spent.
A lot of people think this production is good for Rochester and the state.But others are drawing attention to the tax credits that films like Spider-Man are getting in New York at the expense of other things, like money for the developmentally disabled.
Republicans say, on the one hand, you have the most vulnerable in society facing cuts in services. And on the other hand, you have the most elite in society benefiting from the tax breaks. The ARC of Monroe County, which serves 1500 individuals with developmental disabilities and their families, is still waiting for the axe to fall from the new Cuomo budget. They haven't gotten details on the cuts yet.
Tracy Petrichick, ARC of Monroe VP-Finance, said, “We don't know exactly. There is one focus in the budget that administration be a target for some of those adjustments. And there's absolutely no way that our agency can absorb a cut to administration, and across all of our organizations, $90 million. So it's inevitable that it will affect program services.”
News10NBC asked the governor's press office how much is the Spider-Man movie production getting in tax breaks? Spider-Man is eligible for the same New York State film production credit that every other film production in the state is eligible for, a fully refundable 30% tax credit on qualified costs incurred in New York State.
News10NBC also reached out to CDS Monarch, which serves 1,700 developmentally disabled individuals in our area.But CDS didn't have a comment at this time.