The TV show “Sleepy Hollow” has announced that it will no longer film in Wilmington if renewed for a third season. Network executives site the expiration of NC’s film tax credit program (which last year was converted to a much smaller grant program).
FOX’s hit TV show “Sleepy Hollow” will likely stop filming in North Carolina if the show is renewed for a third season.
StarNewsOnline.com reported that the show may leave for Atlanta after the demise of the North Carolina film tax credit program.
“We’ve explored other places to produce that show and I will tell you it came down to Atlanta and Vancouver and it looks like we’ll head to Atlanta,” said Fox Television Group chairman and CEO Dana Walden.
Taxes matter. The more you tax an activity, the less there will be of that activity. The less you tax an activity, the more there will be of that activity. In this case, when you reduce taxes for filming TV shows, there will be more filming of TV shows. But if the lowered tax burdens on filming production incentivized for film production, why not extend the favored tax treatment to all industries? Imagine the boost to NC’s economy.
I’m sure the Sleepy Hollow announcement comes as a shock to ‘progressives’ like the NC Budget & Tax Center, who in 2013 insisted that state taxes don’t matter to business investment.