Thursday, March 10, 2011

Southeastern North Carolina's film industry has generated eight television series and more than 2300 features, mini-series and TV movies since the 1980s. The industry brings millions of dollars into the local economy and creates high-paying, skilled jobs, according to Woody Hall, senior economist at the University of North Carolina Wilmington's Swain Center for Business and Economic Services.

Because of its importance to the local economy, the film industry will be the focus of the 2011 Joint Economic Growth Summit between UNC Wilmington and South Carolina's Coastal Carolina University, which will take place from 7:30 a.m. to noon Wednesday, March 16 in the Burney Center on the UNCW campus.

The summit will include a keynote panel featuring Tom Clark of the S.C. Film Commission and Aaron Syrett of the N.C. Film Office followed by a film industry panel including Johnny Griffin, director of the Wilmington Regional Film Commission and Heath Franklin, owner of Galvanized Films.

According to an economic impact study done by Hall and Cameron School of Business faculty members Christopher Dumas and Peter Schuhmann, the motion picture industry brings in millions of dollars in revenue to the local economy. In a year that sees four mid-major films shot in Wilmington, the industry supports more than $74.67 million in economic activity. Currently, Wilmington has six motion pictures in production.

"A mid-major is defined as a budget of $25 million," said Hall.

A single mid-major film shot in the region can produce more than $18.67 million of local economic activity, Hall said. The film would create 650 jobs; $9.23 million in wages; $3.09 million in income for self-employed contractors; $1.66 million in property income in the form of rents and interest payments; and $256,000 in state sales and excise tax. Local governments would receive $88,000 in additional revenue from that single production.

"Motion pictures do a number of things. Probably the biggest one is hardest to measure - the visibility," said Hall, adding that Wilmington's ability to promote itself through the film industry has brought increased visibility to the area, with added economic benefits from tourism, new residents and businesses.

At the summit, Hall will present an update of his annual National and Regional Economic Outlook with counterpart Rob Salvino of the BB&T Center for Economic and Community Development at Coastal Carolina University.

The cost of the conference is $35 for an individual registration or $240 for a table of eight. Breakfast is included in registration fee. For more information or to register online, go to www.uncw.edu/jointecon. Onsite registration will be available day of the event.

Media contact:
William Davis, UNCW Marketing and Communication, 910.962.2654 or davisw@uncw.edu.