In the circus of late-night television, there is about to be a big swap. It was recently announced that Jimmy Fallon, who currently hosts “Late Night with Jimmy Fallon,” will be hosting “The Tonight Show” in spring 2014.

Not only is there a hosting change, but the filming will return to New York City for the first time since 1972.

“‘The Tonight Show’ will bring even more jobs and economic activity to our city, and we couldn’t be happier that one of New York’s own is bringing the show back to where it started and where it belongs,” New York City Mayor Michael Bloomberg said in a press release April 3.

The Empire State Film Post Production tax credit was also recently expanded and given a five-year extension. The New York Daily News reported that “The Tonight Show” could receive the benefits of this tax credit, dubbed the “Jimmy Fallon tax credit.” In addition, the tax credit law would make shows that relocate to New York receive the credit.

This change in credit laws presents some opportunities for independent filmmakers a chance to experiment — an exciting prospect for Tisch film students.

“This new tax credit law is very exciting in that it encourages the growth and expansion of the independent film industry,” Tisch film freshman Christina O’Neil said. “They no longer have to heavily lean on huge production companies [like] the situation in Los Angeles.”

NBC is also building Fallon a new studio. It is unknown who will take over his current position as host of “Late Night.”

“On behalf of all New Yorkers, I am pleased to welcome ‘The Tonight Show’ back to its first home here in the Empire State,” New York Gov. Andrew Cuomo said in a press release April 3. “As one of the longest running television shows in American history, ‘The Tonight Show’ is an iconic production.”

GRAPHIC BY RACHEL KAPLAN

Fallon will replace veteran TV personality Jay Leno on ‘Tonight.’

According to Bloomberg’s press release, there has been a 30 percent increase over the course of the last decade of New Yorkers who work in television production.

“I believe the film business brings in much revenue to New York,” said Frank Prinzi, an alumnus of NYU’s Maurice Kanbar Institute of Film and Television, and worked on the show “Law and Order” from 2001 to 2006. “It not only brings in jobs and supports vendors, but it also builds its tourism and helps build the image and magic of the city.”

The band from “Late Night with Jimmy Fallon,” The Roots, will stay in New York with Fallon. One of its members, Questlove, is currently teaching a course at NYU.

More recently, The New York Times also reported that NYU alumnus Alec Baldwin is being considered for a late-night show to replace “Last Call,” currently hosted by Carson Daly.