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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. The U.S. newspaper industry has been in a long decline, driven by factors including a loss in advertising revenue as outlets have moved from primarily print to mostly digital. New York’s three-year program allows some news organizations to tap into refundable tax credits each year, with a single outlet able to receive tax credits of up to $320,000 annually.