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North Carolina Adds $60M to its Film and Entertainment Grant Fund

The North Carolina legislature has allocated a total of $60 million ($30M for 2015-16 and another $30M for 2016-17) to the state’s film and entertainment grant as part of its fiscal biennium budget. The grant program awards productions a rebate of up to 25% of their qualified in-state spending. Combined with the state’s renowned crew base, established infrastructure, and picturesque locations, the grant should put North Carolina on any upcoming production’s radar, the state says.

To be eligible, a production must be able to start principal photography within 120 days of an award being offered. The application to apply for funds is expected to be available later this month. Watch www.filmnc.com for more details.

Here is a quick look at the updated NC Film and Entertainment Grant:

Incentive Type:
Grant that rebates up to 25%

Per Project Cap:
$9 million per season for television series
$5 million for feature-length films
$250,000 for commercials

Minimum Spend:
$1 million (avg) per episode for television series
$5 million for feature-length films
$250,000 for commercials

Annual Cap:
$30 million per fiscal year (FY begins July 1)

Qualified Labor:
First $1 million of each resident & nonresident qualfy

Loan Out Withholding:
Yes. 4%

NC-licensed independent CPA to perform audit at cost to the production

Screen Credit Required:
Yes, including a logo supplied by NC Film Office

Qualifying Expenses:
Goods / Services / Compensation & Wages / Fringes / Per Diems / Living Expenses & Stipends

Qualifying Productions:
Episodic Television Series / Television Mini-Series / Movies of the Week / Feature Films / Direct-to-Video / Reality Television / Commercials / Documentaries / Animation Productions / Webisodes

October 9, 2015