Letter to Editor:
[Note: NC has a film industry incentive to give filmmakers a 25% rebate on their expenses. The editors of the local paper find this just peachy.]
The editors congratulate themselves on the erstwhile success of the film industry in, “Wilmington’s film business on a roll; let’s hope it continues”. Yes, the local film industry is on a roll all right, they’re rolling away with our tax dollars. Golly, who would have thought that bribing a favored industry with a tax credit equaling 25% of its expenses would actually bring that industry to town. Amazing, simply amazing. As Claude Rains famously remarked, “I’m shocked, shocked …”! And as the film industry responds to these tax credit bribes the surprised editors shout with “Glee” or is it just glee? But economically this is “The Night of the Living Dead”.
As a small business owner I’m tired of the endless pleadings for “more porridge tax credits please sir!” as if film is the only industry that needs to remain competitive. What pray tell (is prayer permitted in Willmingwood?) would the editors expect to happen if other industries received the same bribe? Would pharmaceutical companies (PPD) show up in force? What about nuclear (GE) facilities? Might some more build plants nearby? How about a 25% tax credit for specialty glass (Corning)? Would Corning manufacture their Gorilla Glass locally? Or, forsooth, would a 25% tax credit lure more cement plants (Titan)? The list is endless really. In fact, the State of North Carolina could bankrupt itself by bribing industry to locate here. We know that the film industry responds to “The Bribe” (1949). So will others.