NYS Offers Tax Cuts to Promote Broadcast Media Jobs

ALBANY — Applications are now open for newspaper and broadcast media outlets across New York to apply for a share in up to $30 million in state tax cuts, intended to encourage media outlets to retain current staffing levels and add new employees to their rosters.

According to a press release from Governor Kathy Hochul’s office, the “Empire State Newspaper and Broadcast Media Jobs Program” will offer two components to media companies:

• Existing Jobs Component: Media outlets can claim a credit equal to 50% of annual wages for each employee retained, up to $25,000 per employee with a maximum of $300,000 per business.
• New Job Creation Component: For each net new full-time job created year-to-year, outlets can claim a credit of $5,000, up to a max of $20,000 per business.

To prevent major market outlets with larger payrolls from gobbling up all the credits, the $30 million pot is being split evenly between “smaller” business with “100 or fewer New York-based employees” and “larger” businesses with more than 100 New York-based employees. The way the announcement is written, it seems companies with multiple locations (like Nexstar, Sinclair, iHeart, Townsquare, etc.) are considered by their total statewide employee count, rather than on a per-market or per-station basis.

“Over the years, we’ve witnessed too many local newspapers and media companies struggle and disappear from circulation,” said State Assemblyman Al Stirpe, whose district includes multiple towns within the Syracuse TV and radio markets. “Governor Hochul’s program specifically targets those businesses and helps keep local news alive, keeping the community well-informed and better connected.”

Applications for tax credits on jobs retained or created during 2025 are being accepted now through April 25. Empire State Development will process applications in the order they are received, so interested media outlets should apply ASAP through the state’s Consolidated Funding Application.

New York State Broadcasters Association President David L. Donovan said, “This innovative tax credit program benefits all citizens in every community throughout New York by helping to preserve locally produced broadcast news and public interest programs. Local radio and TV stations bring communities together and provide life-saving information during emergencies. We thank Governor Kathy Hochul for her forward-thinking approach to ensure citizens in the Empire State remain informed about their government and the communities in which they live.”

Although Stirpe and Dononvan both mentioned the potential benefits to local news, we noticed the announcement did not specifically say any of the retained or added jobs needed to be news-related in order to qualify for the credit. The way the statement reads, any radio or TV station could apply for the credits, even if they don’t produce any news programming.

Station mangers: what do you think?

Station managers, we’d love to hear from you on your thoughts. Are you going to apply for the credits? Why or why not? Do you think the credits will encourage you to hire new staff and/or avoid layoffs? You can reach us at cnyradio at cnyradio dot com or through the contact form.

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State Capitol photo credit: CC-BY-SA-3.0/Matt H. Wade at Wikipedia