[LISTEN] Film Incentive Boost Clears Another Hurdle
Listen to Wilmington Mayor Bill Saffo
WILMINGTON, NC (whqr) – Legislation that would hike North Carolina’s film incentives was approved Wednesday in the Senate Finance Committee.
The legislation calls for boosting the tax credit from 15% to 25%.
Wilmington Mayor Bill Saffo listed off movies made across the state and urged the Senate Finance Committee to look at film production as a North Carolina industry.
“This is a very important industry to our community but also to the state of North Carolina. And I hope we can do something to raise those incentives to give us the competitive edge.”
Senate Finance Committee members opposed to hiking North Carolina’s tax credit, such as Allegany Republican Don East, pointed to a state budget that slashes health care and education, and questioned how North Carolina can afford to give Hollywood larger tax breaks.
“I just can’t hardly justify to my people back home how I voted to give one little segment a tax break and raising taxes on everybody else.”
Other opponents agreed with East, adding that Hollywood will never be satisfied with the tax breaks it’s given. A Walt Disney movie slated for Wilmington is shooting in Georgia, where there is a larger film incentive.
Saffo says there were 34 movies made in North Carolina between 2006 and 2009, bringing 16,000 jobs.
Listen to Wilmington Mayor Bill Saffo
Click on the audio icon to hear Mayor Saffo’s testimony before the Senate Finance Committee.
