We're not alarmists - but sound the alarms! LAT has a story about Ugly Betty moving to New York.

Two weeks ago, New York's governor signed into law a bill that tripled the amount of the state's film tax credit. Feature films, television series, pilots, and TV movies and miniseries that complete at least 75% of their stage work at a qualified production facility are eligible for a 35% refundable tax credit.

The Empire State kicked off its "Made in NY" incentive program in 2005, and since then has seen a surge in production. In 2006, the city hosted 34,718 location shooting days, a 49% increase over the 23,321 shooting days in 2004.

FBLA had a talk with an industry insider. We asked him if he thinks this is going to be a start of runaway production to The Big Apple. He said,"Some of the major issues with filming in New York have to do with union strong holds - primarily the teamsters. Then there are all the logistical issues you have in order to film in the city that you don't have here. Thirty-five percent? That's something. But it doesn't change the fact that it's still really expensive to film there."

LA still cheaper after all these years.