Study: NC film incentives end could cost millions
New Hanover County could lose more than $10 million in tax revenue if North Carolina's film incentives expire at the end of next year.
The StarNews of Wilmington reports that's one of the early findings of a study on the impact of the film industry in the state.
The study was commissioned by the Wilmington Regional Film Commission and other state agencies and is being conducted by North Carolina State University researchers. The film incentive gives qualifying productions a 25 percent refundable tax credit on money spent on certain services in North Carolina.
The loss of local tax revenue includes $1 million in local sales tax and $200,000 in room occupancy tax if visiting workers are no longer needed on film productions.