TRENTON, NJ-A vote by the New Jersey Economic Development Authority to award approximately $8 million in incentives to a number of film and television production companies was tabled while New Jersey State Treasurer Andrew Sidamon-Eristoff sees if there is funding in place to hand out the tax credits.
"I don't know that there is any money appropriated for this program," Sidamon-Eristoff told members of the Economic Development Authority at its session on Tuesday. "My understanding was that as of several years ago, we were no longer accepting applications under this program. … I need to do a little bit of research."
The EDA agreed to hold off the tax breaks until the Treasury Department's findings are complete, according to the Star-Ledger.
The program, created in 2005 to entice television and film companies to work in New Jersey, hands out a 20% tax credit for film and TV production costs in New Jersey that is capped at $10 million. See story in the Star-Ledger.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
