Vassar: Tax incentives to bear fruit in 2010
October 16, 2009By Ken Little
The recently passed state incentives package for filmmakers will pave the way for an influx of movie and TV productions in 2010, said Bill Vassar, EUE Screen Gems Studios vice president.
The law provides a 25 percent tax credit for film projects in North Carolina, up from the previous credit of 15 percent. It takes effect Jan. 1.
“We’ve got holds on facilities and we’re bidding jobs at a rate we haven’t seen in a long time,” Vassar said. “I would say we’re going to be busy again.”
Vassar won’t get specific about what productions may come to Wilmington, but said some film companies will be opening offices in the city in November and December. Shooting will likely begin in February or March.
Fall is project development season in Los Angeles for television producers. “Come December, they will seriously begin to budget pilots for fall 2010,” Vassar said.
To be eligible for the tax credit, companies must spend a minimum of $250,000 on production costs. The law also requires companies to meet hiring requirements for qualifying film companies working in the state.
North Carolina film productions generated $91 million in direct in-state spending in 2008.
Promoters of the North Carolina film industry like Wilmington Regional Film Commission Director Johnny Griffin are planning a trip to Los Angeles soon to promote the benefits about filming in places like Southeastern North Carolina.
While some other states do offer higher tax credits, Vassar said Wilmington has the advantage of a world-class studio and an experienced film crew base. Statewide, more than 2,500 people work in the film industry, including many based in Wilmington.
Vassar said the new film incentives package could help keep established productions in town. There is no official word about the HBO comedy series “Eastbound and Down,” which filmed its first season here.
“I know they would like to come back to Wilmington. (Actor/writer) Danny McBride and the guys love it,” Vassar said.
“It makes sense to come here. They have established locations. And the 25 percent makes it very competitive.”
