Business Incentives

Local News
4:23 pm
Wed July 30, 2014

Film Incentives Likely Cut; Will Industry Walk Away From State?

CBS's "Under The Dome" is just one of the TV shows filmed in North Carolina that are assessing whether to remain in the state.
Credit Courtesy of EUE/Screen Gems

It’s been more than 24 hours since Speaker Thom Tillis and Senator Pro Tem Phil Berger announced a budget deal was all but done.

Senator Berger said the document would be printed – and published online for all to see late Tuesday night or sometime today.

That still hasn’t happened. Which means there are scant details on just how the General Assembly will pay for the teacher raises and other new spending they announced yesterday afternoon.

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Business
9:58 pm
Fri December 20, 2013

Electrolux Announces 810 New Jobs, $85M Investment In Charlotte

Jack Truong, CEO of Electrolux Major Appliances North America, announced the company will add 810 jobs by 2017.
Credit Tasnim Shamma

Appliance Maker Electrolux announced it will add more than 800 jobs with the expansion of their U.S. corporate headquarters in Charlotte. Electrolux says it will also invest more than $85 million toward construction costs for the expansion.


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Local News
5:43 pm
Tue December 17, 2013

Film Industry Spending Dips Slightly, State Reports

The film industry contributed $250 million in direct spending to the North Carolina economy this year, a dip from last year, according to a new estimate from the North Carolina Film Office.

The 2013 estimate would be about one-sixth less than the state’s more than $300 million record haul from the film industry last year. The director of the North Carolina Film Office points to a primary reason for the dip: Iron Man 3, the biggest blockbuster the state’s ever had, filmed last year.

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Local News
8:55 pm
Thu October 31, 2013

Cabarrus County Bows Out Of 'Incentives Game'

Cabarrus Couny Commissioners (clockwise from back left) Steve Morris, Jason Oesterreich, Larry Burrage, Chris Measmer, Liz Poole.
Credit cabarruscounty.us

Elected officials across the country will tell you they dislike the practice of handing out economic incentives to lure businesses to their communities. But they hold their noses and do it anyway, because "that's the way things work."

Well, officials in Cabarrus County have made the risky decision of saying "No more."


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Local News
5:00 pm
Thu August 29, 2013

Paying For Film, Part 3: How NC Compares

Thirty productions claimed tax credits last year for filming in North Carolina, including some blockbusters like Iron Man 3 and the Hunger Games. Charlotte has become home to a couple of successful TV shows: Homeland and Banshee. By all accounts, the Hollywood business is booming here. But there's a dark cloud on the horizon – come the end of next year, North Carolina's film incentives program is set to expire. 

That prompted WFAE to take a close look at what filming brings to the state, and what it costs us to get those films here. Our two part series wrapped up Thursday morning and WFAE reporter Julie Rose joined host Mark Rumsey to answer a few questions.


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Local News
9:19 am
Thu August 29, 2013

Paying For Film, Part 2: What We're Spending

All three seasons of Showtime's TV series Homeland have filmed in Charlotte.

One billion dollars.  That's what production companies have spent filming in the state since 2007.   

Now here's another number: $100 million.  That's about how much the state has paid those companies in incentives in that time. 

Good deal, right? Spend $100 million to get one billion?  But there's more to the story.


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Local News
6:00 am
Wed August 28, 2013

Paying For Film, Part 1: What We're Getting

Hunger Games was the biggest blockbuster to film in the Charlotte region. It claimed a film credit of $13.7M from the state.

In the last few years, two major television series have made Charlotte their home and the Hunger Games was the biggest blockbuster ever to set up in the region. All that has heightened interest in the debate over whether to extend North Carolina's film incentives. They expire at the end of next year. 

But neither side is spinning the full story of these incentives, so WFAE begins a two-part series to explain. 


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Local News
5:06 pm
Mon July 15, 2013

'Pay-To-Play' System For N.C. Business Incentives?

Governor Pat McCrory's plan to privatize part of the state Commerce Department could result in a pay-to-play system where some businesses get special treatment. That's the finding of a report the N.C. Budget and Tax Center released Monday.


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