While many have opposed the film tax credit on the basis that industries should not receive money from the government, this argument loses its grandeur when the amount of money the government makes back from the film industry is brought to light (Binker). In 2012, about 83 million dollars was paid to the film industry in tax credits, the most ever paid in a single year in North Carolina’s history (Binker). However, a study found that for every one dollar paid in tax credits, 1.52 dollars in tax revenue was generated from the film industry, and 9.10 dollars of direct spending was put back into the economy (Binker). This means that when the tax credits were in effect, the state was receiving more than enough tax revenue to pay back what was paid …show more content…
Ken Fisher has worked with the film industry since before the 25 percent tax credit. He is an account representative for Hertz, a company whose local store rents out heavy machinery for use in film productions (Fisher). Productions commonly rent machinery that is particularly designed for use in lighting and special effects, such as water trucks and stake-body trucks, from Hertz (Fisher). According to Fisher, the loss of the 25 percent tax credit has led to significant drops in the amount of business he does with productions. When the tax credit was in effect, about 30 percent of his business was purely film related. Since the end of the tax credit this number has dropped to about 5 or 10 percent (Fisher). The effects of losing the industry can actually be seen at the local store as well; “Things like black-arm booms, and things that we have specifically for the film business are sitting out there on the yard, idle” (Fisher). This is devastating to locals working for the business because when machinery is left sitting too long it gets moved to other Hertz stores, usually out of state. “We have other stores, in other areas, and they’re busy with films. South Carolina and Georgia, they’re very busy” (Fisher). If the industry continues to decline as it …show more content…
The industry directly supports about 4,200 full time jobs across the state, jobs that pay, on average, 60,000 dollars a year (Binker). Compare this to the average pay of workers in other occupations across the state, 36,000 dollars annually (Connaughton). While there are other businesses that can employ a similar number of people, the compensation levels of the film industry are hard to compete with. The film industry is also unique in its effect on creating indirect jobs. Its is estimated that for every 100 people employed directly by a film production, about 52 other full time jobs are supported by the production’s spending (Connaughton). In fact, employee compensation in the Charlotte area alone increased by about 118 million dollars due to the film industry (Connaughton). It is fiscally irresponsible to threaten any industry that supports so many well-paying jobs, especially when these jobs are in demand in other
Obamacare’s lawfulness has been in dispute since its origin in 2010. The Patient Protection and Affordable Care Act (PPACA) was passed on the grounds that it would provide affordable government healthcare to all citizens of the US. The policies contained within give much power to the government over healthcare. These policies have helped some people gain access to healthcare. However, these policies have also taken away some of the freedoms that Americans had before (Tennant).
These jobs will be replaced by technology or eliminated due to cost. The cons outweigh the pros in increasing the wage. American’s with fifteen dollar an hour paying jobs will soar above the poverty line, but half a million will be left without source of
Desiree Ripoll Professor Heuer ENC 1102 5/30/2017 Increasing the Minimum Wage is Good for America Raising the minimum wage is not only beneficial to those who are struggling financially, America’s economy would benefit from this as well. Doug Hall and David Cooper express how increasing the minimum wage would be a tool for modest job creation in the article “Raising the Minimum Wage Would Help Lower-Income Workers”. In the article “Is a $15 minimum wage economically feasible?” Jeannette Wick-Lims discusses how raising the minimum wage is good for the economy if we adapt to the changes accordingly.
And on April 1, 1991, the minimum wage hit an all-time high of $4.25 an hour as explained by Lawrence Katz (6). In his findings regarding his article, Lawrence Katz states that "the evidence on employment and price changes does not seem consistent with a conventional view of the effects of increases in a binding minimum wage” (20). By this, Katz is trying to state that even though the minimum wage increased in the early 1990s, the increase had an adverse effect in which employment to the fast food industry increased in Texas, where he conducted his research. He also concluded that the changing in prices in the businesses he researched were not directly associated the minimum wage increase. Looking back at this research, it seems as though the constant increases in the minimum wage shows how strong our economy has become.
In 2012, this occupation employed approximately 4,700 people in California. It is assumed that there
•Power of Suppliers Suppliers in the movie producer industry allude to assets necessary to make a movie. This may incorporate innovation suppliers, gear makers, and imaginative ability. The movement from hand drawing to CG/outsourcing multiplies the suppliers required. Nevertheless, bargaining force for these suppliers are controlled in that, in spite of the fact that it is critical and often hard to select the best assets, there are numerous choices accessible for movie producers to
The Warners were soon relieved of all financial worries, and consequently began to grow into a major motion picture studio that is still a dominant movie incorporation in today’s society (Warner
The two major competitive forces that have challenged the movie industry are new market entrants and substitute products and services offered. The new market entrants such as online movie websites (CinemaNow, MovieLink, Youtube, etc.) have challenged the way movies were originally viewed on televisions, in theatres and through movie rental. These new market entrants are also beginning to use substitute services, such as providing movies online by enabling customers to download rentals and utilize video-on-demand services in the comfort of their own home, 24
Whichever the case one can only hope that the future of cars is more promising than what it was in the
Technology costs have risen more strongly for graphics, games, HD requires significant investment in personnel and equipment. This has become increasingly creative work Fund developments. Typically, companies are outsourcing some work overseas to cut
This will affect customers loss of interest towards Apple products as they find it no longer unique (Slideshare, 2016). Technological advancement has always force Apple Company to invest a lot in technology as it is largely invested in product research and development field to push the product’s ranking into a much higher rank through their innovative side. For example, one of the most innovative and technologically product will be the IPod touch as it is a big step towards the replacement of basic mp3 (Slideshare, 2014). If Apple Company did not put any pressure towards the research and development department, it is clear to say that without the advance technology, the company will become obsolete. It is a fact that trends of the marketplace are slowing developing into something much more greater.
If the market is in recession the demand can be expected to be on the lower side whereas in case of boom condition, demand will definitely be much higher. Competitors: The strategies of the competitors over the past periods should be analysed in depth and should be used to fine tune the forecast for next
The Hollywood institution has been the dominant force throughout motion picture history due to the studios’ cooperative control of distribution as well as production. During the 1930’s, five major studios that became known as The Big-Five and
Being a luxury product, people would tend to buy it only when they have a considerable amount of disposable income. In economies doing well, the product would continue to
If there has a cut down of advertisements, the revenue of this industry would drop. However, the lifeblood of this industry is depends on the box office success to generate the majority of operating revenue. Thus, theater chains need to have the newest movies to attract consumer attention. Furthermore, this industry has limited attraction to target audience of 12-24 year olds.