From an editorial Tuesday in the Fayetteville Observer:
The film industry is all but dead in North Carolina because a General Assembly incentives jihad has sent movie producers scurrying to other states offering better deals.
We hope the movies aren’t the canary in our coal mine, singing of other corporate losses to come. Distaste for the incentives game is a reasonable reaction to the giveaways required to lure corporate business. But playing the game is the only pragmatic strategy around.
As a story in Sunday’s Greensboro News & Record reported, between 2007 and 2012, Hollywood spent $1.3 billion here. The state paid $112 million to the filmmakers. And yet, the state still earned nearly $60 million in tax revenue.
Forty-two productions are filming in Georgia this summer. More than 100 new film-related businesses have set up shop there. Guess where a lot of them came from.
This is the same reason Volvo and Boeing spurned North Carolina and chose South Carolina.
Senate leaders are plugging their ears so they won’t hear the canary sing.