Movin' on up: Deluxe in NYC
Expansion aided by tax creditsDeluxe Entertainment Services Group intends to enter the New York market by opening a full-service facility in downtown Manhattan.
Services will include a motion picture laboratory, high-definition telecine, editorial and media-management services. The business also will house a digital intermediate postproduction center under Deluxe's Efilm brand.
Deluxe New York — whose primary markets will include theatrical releases, television and commercials — hopes to open services by October and have full operation in a roughly 40,000-square-foot custom-finished space available by early 2008.
Deluxe, which is wholly owned by MacAndrews & Forbes Holdings, has been strategically adding to its portfolio. Deluxe maintains facilities in such major cities as Los Angeles, Toronto, London, Madrid, Barcelona, Rome and Florence, Italy. The company viewed extending its capabilities to New York as the next logical step in its full-service approach.
"We've wanted to be a part of the vibrant New York film community for a long time," Deluxe CEO Cyril Drabinsky said. "We're excited and committed to the success of this new facility."
The move comes at a time when incentive programs offered by the city and state have been contributing to a general interest in the market.
"Deluxe's expansion here is the latest endorsement of the booming film and television economy under Mayor (Michael) Bloomberg, and its attractive package of postproduction services will ensure that New York film crews have access to the best facilities the industry has to offer," said Katherine Oliver, commissioner of the New York Mayor's Office of Film, Theatre & Broadcasting. "The Made in N.Y. film tax credit covers postproduction costs for qualifying projects, making postproduction in the city even more affordable."
Key labs now operating in the New York market include Du Art, Technicolor and the Lab at PostWorks.
Efilm is a leading Hollywood-based digital intermediate services company, which also maintains a presence in the Bay Area and Toronto.