Cuomo Coaxes CBS To Keep Colbert's 'Late Show' In NYC

Offering a set of new tax incentives, Governor Andrew Cuomo announced CBS decided not to relocate the "Late Show" to the West Coast after all.

Cuomo Coaxes CBS To Keep Colbert's 'Late Show' In NYC
CBS / 'Late Show with David Letterman'

Listen up, Colbert Nation: the "Late Show with Stephen Colbert" is officially staying put in the big apple. (Via Getty Images)

After rumors swirled of a possible West Coast shift, CBS and New York Governor Andrew Cuomo announced Wednesday the iconic late-night comedy show will stay put at the Ed Sullivan Theater in Manhattan when Colbert takes the reigns from Letterman. (Via CBS / "The Late Show With David Letterman")

CBS President Les Moonves said his network is excited to continue the show's tradition in the historic venue.

"We're thrilled to continue broadcasting CBS' 'Late Show' from New York and call the Ed Sullivan Theater its home. When Dave decides to pass the baton next year, we look forward to welcoming Stephen Colbert ... to this storied television theater."

As expected, Governor Guomo certainly padded CBS's wallet with some incentives to keep the show in an empire state of mind. 

According to an official statement from Governor Cuomo's office, CBS will get "$11 million in 'performance-based' tax credits over five years," so long as the television network provides roughly 200 New York-based jobs.

Plus, the state will give CBS access to a $5 million grant if renovations are needed to restore the 87-year-old theater. (Via C.K. Koay / CC BY NC 2.0)

Cuomo said, “The television and film industries are thriving in the Empire State – creating jobs and fueling dozens of other sectors across the state. Les Moonves and CBS have made the right decision."

This isn't unprecedented for Cuomo, who has used tax savings as leverage to help New York score more entertainment jobs before.

New York Daily News reported the governor beefed up tax credits for film companies who would relocate to New York from other states last March.

That legislation passed just days before NBC uprooted the "Tonight Show's" 41-year-old-history in Los Angeles and switched coasts back to its original Manhattan stomping grounds after Jimmy Fallon took over for Jay Leno.

And NBC's hit performance-based reality show "America's Got Talent" also followed suit and moved filming of its eighth season from a New Jersey theater to Radio City Music Hall — at Rockefeller Center.

As for Stephen Colbert, he said he was excited to stay close to his New Jersey home. Plus, the comedian is pretty much regarded as a New York act to begin with. (Via Comedy Central / "The Colbert Report")

Still no official word on when Colbert will take over hosting duties on the "Late Show," but The New York Times said its likely CBS will have a Letterman send-off in May. Then, after a brief hiatus, Colbert will start his new gig in September.