A new $100 million tax credit to encourage and support the reopening of Broadway was launched today with an announcement by New York Gov. Andrew Cuomo. “New York is not ‘New York’ witho…
, all program participants will be required to take part in a New York State diversity and arts job training program “and expand opportunities for low-income New Yorkers to access productions at low or no-cost.”“Theatrical productions support thousands of jobs and showcase performances and artists that reflect our state’s great talent and diversity,” Cuomo said in the statement.
Charlotte St. Martin, President of the Broadway League, said in a statement that Cuomo’s announcement comes at a “perfect moment” and described the tax credit as an “unprecedented initiative” that will “increase access to Broadway shows for New York State residents and create new career pathways in our industry.”
“We’re gratified for the Governor’s enthusiastic support of Broadway and investment in the industry’s workforce,” she added, “which are so vital to the economic and cultural health of New York State.” The program was first announced in April as part of the fiscal year 2022 budget, specifically as part of a comprehensive $1 billion package of economic recovery initiatives. In launching the tax . credit initiative today, the state cited statistics indicating that, prior to the pandemic, Broadway theaters welcomed a collective audience of nearly 250,000 people each week, supporting more than 90,000 local jobs and contributing more than $14 billion annually to the New York City economy.
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