New York state is no stranger to Hollywood magic.

“We make it very easy to film here,” Albany County Film Commissioner Debby Goedeke said.

A robust $700 million tax credit program is attracting production of television and film to the Empire State.

“Last year, I want to say we probably did a little over $2 million in economic impact,” Goedeke said.

What You Need To Know

  •  New York state dedicates $700 million to a tax credit incentive progam for television and film production

  •  President Donald Trump is floating the idea of imposing a 100% tariff on foreign-made films, which has sent shockwaves across the industry

  • The state Legislature is considering a proposal from Gov. Kathy Hochul that would expand the program to $800 million

But on Sunday, some doubt was cast over the industry.

“We’re making very few movies now,” President Donald Trump told reporters at the White House. “Hollywood is being destroyed.”

On social media, Trump floated the idea of imposing a 100% tariff on “any and all movies” released in the United States that were produced overseas.

But on Monday, White House spokesperson Kush Desai told the Hollywood Reporter, “no final decisions on foreign film tariffs have been made.” In the Oval Office, there was a slight change in tone from the president, who says he plans to meet with industry leaders.

“I’m not looking to hurt the industry,” he said. “I want to help the industry.”

Nonetheless, skeptics are wary.

“Once you start the trade war, who knows where it ends,” Gov. Kathy Hochul said during an appearance on CNN Monday as the state Legislature considers expanding the tax credit program to $800 million.

“I’m fighting hard for this industry in New York state,” the governor said. “It’s an economic driver. The talent wants to be in New York.”

Local industry leaders appear more open-minded about the idea of a tariff.

“If it starts a conversation on how we can keep more film production here in New York state and the United States, than I’m all for it,” Goedeke said.

The conversation comes less than two years after a state-sponsored study completed by a Philadelphia-based financial advisory firm found the credit “does not provide a positive return to the state.”

“The state of New York should be out of the film and television production industry entirely,” Manhattan Institute fellow Ken Girardin said.

Researchers say it’s driven by special interest groups in Albany, and believe the Trump administration would miss the mark with a tariff on foreign productions.

“If the feds wanted to do something positive, they should be leading to get these states out of the subsidy business,” Girardin said.