tax incentives

Business
12:11 am
Thu June 12, 2014

Are NC Film Incentives Worth It? Part 2: Running The Numbers

Filming of Iron Man 3 in Wilmington. The blockbuster was the first film in North Carolina to hit the $20 million dollar film incentive cap.
Credit Courtesy of the Wilmington Film Commission

The curtain is poised to come crashing down on North Carolina’s film incentive.

Wednesday, the House Finance Committee adopted a plan which would slash the amount a production company could receive, from $20 million to five million.

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Business
9:35 am
Wed June 11, 2014

Are NC Film Incentives Worth It? Part 1: How They Work

A chair on set of CBS's "Under The Dome"
Credit Courtesy of EUE/Screen Gems

For the past seven years North Carolina has been aggressively trying to lure movie and television shows to film in the state. Their bait? Tax dollars.

Since the program began it has been hugely successful. But the film incentive program is controversial. In Raleigh there is a movement to change the program or let it sunset at the end of this year.

This week, we take a closer look at the incentives program and proposals to change it. This report looks at how the system works and how much money just one TV show spends in the state.

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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
11:39 am
Thu December 12, 2013

Improving Economy In Lincoln County Means Less State Money To Lure New Companies

Credit Lincoln County, N.C.

Lincoln County’s economy is improving. Unemployment is down and incomes are up. But, that prosperity also means less state money can go toward luring new jobs. WFAE’s Duncan McFadyen explains.


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Charlotte Talks
12:00 am
Mon July 1, 2013

NC Film Industry And Incentives

Showtime's Homeland was filmed partially in Charlotte. This scene was shot at Freedom Park
Credit homelandincharlottenc.com

Several years ago North Carolina lawmakers introduced a large tax incentive package that they hoped would lure the movie industry back to the state. By any anecdotal measure the incentive is a huge hit. Charlotte is home to several national shows and the region and state have seen some of the largest films in Hollywood come here for production. Millions and millions are spent in the state but critics say the numbers are not what they seem. So is the booming film industry in our state worth the incentive? We'll examine that question and look at a rapidly growing independent film industry in our state, when Charlotte Talks.

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Entertainment
8:27 pm
Fri May 3, 2013

Incentives That Landed Iron Man 3 Production Under Legislative Review

Iron Man 3 opened in theaters last week internationally and has already grossed $200 million. The movie was filmed in Wilmington.
Credit Marvel

Iron Man 3 – one of the most expensive films to ever come out of North Carolina – hit theaters Friday. It received $20 million in state incentives and lawmakers are now debating a bill that would remove the state's film tax credit – the same credit that brought the Iron Man 3 production to the state.


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Local News
9:28 am
Tue April 23, 2013

Panthers Get $87.5M Public Money For Stadium

Panthers owner Jerry Richardson thanks the Charlotte City Council for committing $87.5M to stadium renovations.
Credit Julie Rose

  Charlotte taxpayers will pick up nearly two-thirds of the $147 million tab to renovate and maintain Bank of America Stadium.

The Charlotte City Council voted unanimously Monday night to give the Panthers $87.5 million it will collect through a tax on prepared food over the next 10 years. 

In exchange for public money, the Panthers promise to stay in Charlotte for at least six years, with financial penalties that kick in if the team leaves within ten years. City staff call the deal a "tether" that will keep another city from poaching the team.  

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Local News
9:34 am
Wed April 3, 2013

Veteran Journalists Challenge City's Secret Meetings With Panthers

Attorney Paul Whitfield is representing former Charlotte reporters Ken Koontz, Bruce Bowers, Mike Cozza (l-r) and Wayne Powers (not pictured).
Credit Julie Rose

  A group of former Charlotte reporters from the 1970s are taking the city to court over its decision to negotiate behind closed doors for tax money to renovate Panthers' stadium. 

These same journalists and their lawyer sued the city for violating the state open meetings law in the early 1970's – and won. As a result, Superior Court Judge Frank Snepp placed the city under a permanent injunction against breaking the law.

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Election 2012
9:30 am
Thu October 4, 2012

McCrory: No Upfront Cash To Lure New Business to NC

Gubernatorial candidates Pat McCrory and Walter Dalton addressed the role of economic incentives in attracting new jobs to North Carolina during their first debate Wednesday night.  Democratic Lieutenant Governor Dalton says he doesn't like giving tax breaks and cash to lure businesses, but we have to offer incentives since other states do.

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