New York will set aside money to help local news outlets hire and retain employees

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New York is offering up to $90 million in tax credits for news outlets to hire and retain journalists in an effort to help keep the shrinking local news industry afloat.

FILE – News Editor Chris Sciria puts the newspaper to bed for the last time from an empty newsroom at The Citizen’s 25 Dill St. location in Auburn, N.Y. on Friday, Oct. 22, 2021. After 51 years on Dill St. the newspaper moved its operation to a smaller office space. ALBANY, N.Y. —

State Sen. Brad Hoylman-Sigal, a Democrat who sponsored the legislation, said preserving journalism jobs is vital for the health of democracy. As evidence, he cited the weakened New York news media’s failure to research the background of George Santos, a Republican who fabricated many details of his life story, until after he had been elected to Congress.

Hoylman-Sigal said he is open to making revisions to expand the legislation to include nonprofit news organizations and digital-only media outlets, which are currently left out of the program. In Illinois, lawmakers have proposed a journalism scholarship program, a tax credit and a requirement that news outlets notify the state of plans to sell their operations four months in advance. Bills in Connecticut and Illinois would direct that some money the state spends on advertising go to local outlets.

New York’s program, which would start in 2025, will divide tax breaks into two pots, with about $4 million worth of credits available to help newsrooms hire staff and about $26 million in credits to help with staff retention. News businesses applying for the tax credit wouldn’t be evaluated based on whether government officials like their coverage, state officials said.

 

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