With Budget Signed, Film and Entertainment Grant Officially Gets $30M Allocation
Jul 14, 2016
RALEIGH—With the official signing by Governor Pat McCrory of the state’s 2016-17 Fiscal Year Budget, a new allocation of $30 million has been added to the North Carolina Film and Entertainment Grant program. The allocation had been previously laid out as part of last year's biennium budget, but still had to be officially approved by the legislature and Governor for the individual fiscal year.
Administered by the North Carolina Department of Commerce and marketed by the North Carolina Film Office, the North Carolina Film and Entertainement Grant program replaced the state’s previous 25% refundable tax credit, which ended on December 31, 2014, and offers a rebate of up to 25% of a production's direct in-state spend for work done and goods and services rendered in the state in conjunction with the overall production of a feature-length film, television series, and/or commercial.
Projects seeking to apply for the grant must have a direct in-state spend of at least $5 million for feature films, average at least $1 million per episode for television series, and $250,000 for commercials. While a grant may be awarded at up to 25% of the production's in-state spend, award amounts may not exceed $5 million per feature film, $9 million for a television series or $250,000 per commercial.
For more information on the grant program, click here.
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