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The NC Department of Revenue

The NC Department of Revenue does publish film incentive statistics. For the 2011 year, the latest, you will find it here:

Reports from 2007 are linked here at the NC Film Office:

The total spending reported for 2011 was $121,379,192. It further reports that 10,588 people were employed that year and the cost of these credits was $30,344,798. Quickly dividing the cost of credits by the number of people employed yields a cost per job of $2,865.96.

Note that all of these payments ARE subject to NC sales and income taxes, EVEN the wages paid to those residing out of state.

This report does NOT delineate between payments made to in-state vs out-of-state business and workers, thus a complete assessment of the economic benefits cannot be derived from this information.

The minimum benefit would be the tax revenue realized by the State of NC on the income earned by the non-residents (both persons and businesses).

When resident earnings are considered, the individuals being paid are paying state taxes AND are spending in the state's economy.

The impact of earning and spending is subject to a multiplier effect. Though this article is British, it succinctly explains the principle of how a dollar spent in an economy creates additional income.

Guest 1492, I intuitively believe that the film incentives are a benefit to this state but I am surprised that the large beneficiary industry leaders aren't providing more "facts and figures" in support of their incentive program.

When we think of a proposed $100Million incentive to place 2600 jobs in the state by MetLife, dividing that through yields a cost per job of $38,461.53. This is quite a striking difference from the cost per job of the film incentive program.

Something else to think about, the current incentive program has a $1Million cap on the wages and salaries paid to an individual. This limit all but precludes the possibility of a project with A-List talent situating itself here in NC.


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