Film Tax Credit

September 29, 2008 - 11:20am
PRESS RELEASE

Senator Sarlo Vows To Renew Push For Digital Media Tax Credit

SENATOR SARLO VOWS TO RENEW PUSH FOR DIGITAL MEDIA TAX CREDIT

Lawmaker Says Tax Credit Incentive a Good Move in Bad Economy

RUTHERFORD – Citing the faltering national economy and fiscal uncertainties here at home, Senator Paul A. Sarlo announced today at the opening of the Bergen County Film Festival at the Williams Center for the Arts in Rutherford that he would renew his push for a bill he sponsored last session which would offer tax credit incentives to digital media production companies seeking to relocate to New Jersey. A scaled-back version of the bill was signed into law in January after Governor Corzine expressed concerns.

“With Wall Street in crisis and New Jersey reeling from a national recession, now’s the right time to talk about encouraging economic growth and private investment in the Garden State,” said Senator Sarlo, D-Wood-Ridge. “At a time when we need to be seeking ways to grow our State’s economy, an incentive program for a booming high-tech industry makes sense. In the next few weeks, I will renew the push for the digital media tax credit to keep New Jersey economically competitive and at the cutting edge of today’s high-tech marketplace.”

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