Film Industry Tax Credits
The Senate tentatively approved a bill that would give tax credits and grants to 15 percent of what a production spends in North Carolina above $1 million. The Senate Finance Committee lowered that threshold to $250,000 to match a version, which was included in the House budget. The state hopes to encourage more film companies to work in North Carolina, creating jobs and providing much needed new money for our economy. In recent years, hundreds of jobs have been lost in that industry and more are at stake unless incentives are granted.