North Carolina Likely To Cut Off Film Tax Incentives

Tags: Wall Street

0
0
Subscribe to Wall Street alerts

North Carolina, one of the states that have benefited the most from tax credits extended to movie and TV studios, is about to drop them, the Wall Street Journal reported over the weekend. Because of uncertainty about how the state will ultimately act, some studios that ordinarily might have selected the state for filming are already looking elsewhere, the Journal observed, noting that Fox recently decided to film the TV show Salem in Louisiana rather than North Carolina, partly because of uncertainty over North Carolina's continued incentives. Vans Stevenson, a senior exec with the Motion Picture Association of America, told the journal that North Carolina stands to lose thousands of jobs and hundreds of millions in spending if the incentives are cut off. But state Sen. Bob Rucho told the newspaper that while it is nice and glitzy to have filmmakers shooting scenes for their films in North Carolina, There's no evidence that the state has benefited from the exposure.



Contactmusic
0
0
Subscribe to Wall Street alerts
Advertisement
Advertisement
Advertisement

Comments