Tax break helps NYC lure ‘The Tonight Show’ home

February 23, 2014 • Business

FILE- In this Feb. 20, 2014 photo provided by NBC, host Jimmy Fallon applauds first lady Michelle Obama on the set of “The Tonight Show Starring Jimmy Fallon,” in New York. Aside from Fallon wanting to do the show in New York City, NBC could have viewed a 30 percent tax break as incentive to bring the show back from the West Coast after 40 years. The tax credit, designed to lure certain types of programming to New York, can potentially save the network $20 million dollars a year. (AP Photo/NBC, Lloyd Bishop, File)

NEW YORK (AP) — “The Tonight Show” made its return to New York City with a splashy opening sequence showcasing Grand Central Terminal, the Chrysler Building, Lincoln Center and Jimmy Fallon’s glamorous new studio at Rockefeller Center — a fitting tribute to the place that helped foot the bill.

An unconventional 30 percent tax credit aimed at luring “Tonight” away from California after four decades is reportedly saving NBC more than $20 million a year.

The network said that while the show relocated to New York for creative reasons the move wouldn’t have been possible without the tax credit.

New York’s mayor believes the show’s relocation was a triumph with wide-ranging benefits.

“Bringing ‘The Tonight Show’ back to our city means we’re bringing more than a hundred jobs to hard-working New Yorkers, and giving travelers Login to read more

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