by Donna Martinez
Former Senior Writer and Editor, John Locke Foundation
Ray Nothstine weighs in on film incentives in this North State Journal opinion piece.
While North Carolina is sometimes cited as the economic model for other states and Washington, our state is trailing behind when it comes to abandoning film subsidies. A little less than a decade ago, 43 states boasted incentive packages to lure film companies to their respected states. That number has dropped by 10 because lawmakers are starting to realize that the benefits do not outweigh the cost to the taxpayer. Jon Sanders of the John Locke Foundation reported in 2014 that film subsidies returned 19 cents to the economy for every dollar spent by the state, a pretty paltry return that should have even star struck proponents questioning their support.
Read Ray’s entire piece on film incentives here.
And for the very latest from Jon Sanders on film incentives, read here. Jon writes in part:
North Carolina simply doesn’t need film grants. Thanks to major reductions in tax burdens, spending growth, and bureaucratic red tape, North Carolina boasts a freer business climate, a vibrant economy, and lower costs of doing business.
Those are appealing factors that can also supplement the state’s many natural amenities in attracting outside film productions. More importantly, they’re already attracting hosts of business endeavors that are coming here for the long haul.