NEW YORK - Governor David Paterson, Mayor Michael Bloomberg and ABC Studios President Mark Pedowitz Monday announced that the production of the popular ABC comedy “Ugly Betty” will be moving to New York City to take advantage of the 35 percent tax credits provided by the state and city. This move marks the first time an established television show has made a move to New York City and will create over 200 full and part-time jobs.

Last month, Governor Paterson made the announcement of the expansion of the New York State Film Production Credit during the opening of the seventh annual Tribeca Film Festival. The expansion of the state’s tax credit program tripled the percentage of qualified film production costs eligible for the credit from 10 percent to 30 percent and extends the program to 2013.

With the increased competition from neighboring states, New York has been losing film and television business for the past several years. This has resulted in a loss of approximately $750 million to the New York economy. Coupled with the City’s 5 percent ‘Made in NY’ tax credit, film companies can now take advantage of 35 percent of tax credits allowing New York to once again reclaim its spot as the premiere location for film production.