NC Extends Film Tax Incentives Until 2015
Expect the influx of major film productions taking advantage of North Carolina’s film tax incentive program to continue, as the state General Assembly recently voted to extend the successful intiative for another year.
According to News 14 Carolina, film and television productions in 2010 spent around $80 million in North Carolina, which almost tripled in 2011 to $220 million thanks to the state’s attractive tax credit made available that year. So far in 2012, projections are already in excess of $312 million.
Extending the tax credit for another year promises more high profile projects will be coming to the Tarheel State.
“The productions that we are dealing with need to be able to have certainty moving forward especially in the television industry, folks need to run budget scenarios two to three years into the future,” said Johnny Griffin, the Director of Wilmington Regional Film Commission.
Originally set to expire on January 1, 2014, the tax credit now expires on January 1, 2015.
This year has already seen the release of The Hunger Games, Journey 2: The Mysterious Island, and Piranha 3DD, all of which were filmed in North Carolina. In addition, a number of projects filmed in the state are wrapped and awaiting a release date, including Arthur Newman Golf Pro, Writers, Jessabelle, The Warren Files, and The Occult.
On television, this year’s top Emmy Awards contender Homeland (Showtime) calls Charlotte home, while the much buzzed about Revolution (NBC) from J.J. Abrams (Lost, Star Trek) starts shooting in Wilmington this month.
And then there’s Disney and Marvel’s Iron Man 3, now filming at EUE/Screen Gems Studios in Wilmington and all but guaranteed to be the biggest blockbuster ever produced in North Carolina when it lands in theaters on May 3, 2013.
Of all the projects currently in production in North Carolina, what are you most looking forward to seeing?