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Georgia, Louisiana May Benefit From End of North Carolina’s Production Tax Credits in 2015
Source:
variety.com
- Sep 4, 2014
The sun may be setting soon on North Carolina as a site for movie and TV production. But its loss will likely be Georgia’s and Louisiana’s gain.
On Aug. 20, North Carolina lawmakers decided to replace the state’s current incentive program — which is providing 25% tax credits on more than $300 million in production coin spent there this year — with a grant program that will cover just $40 million in 2015. The move followed pressure from the Tea Party to do away with tax credits.
North Carolina has been home to some 800 productions, including “Under the Dome,” “Iron Man 3” and “The Hunger Games,” over the past three decades. Backers of retaining the credit assert that the industry provides regular employment for more than 4,000.
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Category: General Business
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