First in the Nation Tax Credit Program Supports Job Creation and Retention at New York's Local Newspaper and Broadcast Media Businesses
State Investment Strengthens Community Journalism to Ensure New Yorkers Stay Informed
Up to $30 Million Available Annually Through 2027
Governor Kathy Hochul today announced that applications will open Tuesday, February 24, 2026 for the Empire State Newspaper and Broadcast Media Jobs Program, which provides critical financial support to eligible newspaper and broadcast media businesses operating in New York State. Administered through Empire State Development, the program offers up to $30 million annually in tax credits to help local media outlets create new jobs and retain existing employees. Information about the program and how to apply can be found here.
“Local newspapers, broadcasters and journalists are the backbone of our democracy. They inform our neighbors, elevate community voices and hold our leaders accountable,” Governor Hochul said. “This program will deliver meaningful support to newspaper and broadcast media businesses, keep reporters on the beat, strengthen local coverage and ensure New Yorkers have the trusted information they need.”
Empire State Development President, CEO and Commissioner Hope Knight said, "New York's local media outlets play a vital role in our communities and our economy. The Empire State Newspaper and Broadcast Media Jobs Program provides the financial incentives these businesses need to retain talented employees and create new jobs, strengthening this essential industry across the state."
The program offers a tax credit with two components:
- New Job Creation Component (up to $4 million available per year): A credit of $5,000 per net new full-time job created year-over-year, up to $20,000 per business.
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Existing Jobs Component (up to $26 million available per year): A credit equal to 50 percent of annual wages per employee retained, with a maximum credit of $25,000 per employee and $300,000 per business.
To ensure that the program is available to assist media businesses of all sizes, funding will be divided evenly, with 50 percent of funds made available to smaller businesses with 100 or fewer New York-based employees, and the remaining 50 percent allocated to larger businesses with more than 100 New York-based employees. The program will be accepting applications through the state's Consolidated Funding Application. The application period for program year 2025 will close on April 25, 2026. Applications will be processed on a first-come, first-serve basis.