The Taxman Cometh, Bearing Good News

  Tax incentives, seemingly, continue to work their magic. New York City figures to receive more than a 6:1 return on its tax program, according to a recent study by Ernst & Young, reports Michael Cieply in the NYT's Arts Beat blog. New York State offers 30 percent tax rebate on all below-the-line costs related to film and TV production. New York City kicks in an additional 5 percent.

According to the study, New York State could be expected to spend $215 million on tax credits and receive $404 million in tax revenues, a whopping 88 percent return on investment. The job-creation figures are also encouraging.

Ernst & Young says New York could expect to create 7,000 jobs directly related to film and TV production and generate another 12,500 in ancillary employment. Of course, more production in New York means less for Hollywood. (Great, another reason for the two cities to mix it up. Doesn't SAG brew enough Biggie/Tupac-style HaterAde on its own?)

'AWFUL' IS THE NEW 'GOOD': In the current economy, "merely awful" news becomes "good" news when juxtaposed with the "truly wretched." For those of you have been living under a rock for the past six months, a brief primer in macro-economics: Since we here in the United States have become addicted to cheaper clothing from Indonesia and inexpensive Duracel batteries from Taiwan (thank you, WalMart!), and since we ourselves don't make things anymore, our economy is dependent on us buying stuff. According to a report from the Center for Media Research, a recent poll on consumer spending habits indicates we just may have touched bottom of our ever-sinking confidence. Though the raw numbers are still enough to inspire one to scout prime street corners for an apple-selling stand, there has been a slight uptick in the numbers. And you should care why? How've those tips been at the bar lately?

MAKING THE GRADES: As we have been preoccupied with all things SAG, we have missed Patrick Goldstein's report cards on the studios in the L.A. Times. Today he highlights Universal. (Who knew Mamma Mia! grossed a half billion worldwide? Maybe it really is Meryl Streep's year.) His other reports are at the bottom of the piece and are worth a perusal.

PIX AND SHOVEL: IndiePix, a website distributor of independent film, reports a six-fold increase in sales in 2008 over 2007. According to a news release, IndiePix makes deals with independent filmmakers, some of whom can receive revenue in the $10,000-$50,000 range. The news release said distribution deals at Cannes are not as good. Okay, okay, okay: I'm citing a release here, not an independently written and verified news story, but it's worth a look anyway.

--Andrew Salomon