WILMINGTON, NC (WWAY) — A big boost is coming to the North Carolina Film Grant Program.
Today, the North Carolina Senate and North Carolina House agreed to increase the film grant to $30 million dollars annually over the next two years. This is an increase of $20 million dollars compared to the previous budget cycle.
“The film grant program is one of the only small business incentives in North Carolina and is vital to New Hanover County,” Senator Michael Lee said in a statement. “I am pleased that my Senate colleagues, after much negotiation, have agreed to increase the funding levels for this important program. While there is still much more that can be done, today is a victory for both our region and our State.”
Representative Ted Davis added, “I have been fighting tirelessly for the film industry since the day I stepped into office. Today is a good day for both New Hanover County and the State of North Carolina. I am delighted to hear that the film grant is being increased and I think we can now say that North Carolina’s film industry is officially back open for business”.
North Carolina’s former film incentive program, which expired last year, offered qualifying productions a 25% refundable tax credit.