Legislation would provide incentives for video gaming tournaments to stage events locally

By Staff Report, posted Jun 14, 2021 on BizFayetteville.com

---

A bill working its way through the North Carolina House could make video gaming competitions in the Greater Fayetteville area more profitable.

House Bill 945, known as the Esports Incentive Program, would provide a 25 percent tax credit to organizations running gaming events and competitions, many of which bring in thousands of fans. The bill, if signed into law, would also give $5 million to North Carolina State University.

The university would use the funds for a Esports Training and Education Center as well as mobile training and educational mobile units that could travel to gaming fans throughout North Carolina.

One of the fastest growing industries, gaming competitions and other e-sport events have seen arena-sized crowds and prizes exceeding $20 million.

According to C.J. Collins, co-owner of Charlotte Phoenix, one of the biggest e-sports companies in North Carolina, said the legislation supports attracting video game developers to come to the state to run their tournaments. 

“I think that’s absolutely something this [bill] supports,” Collins said in a story for the Raleigh News & Observer. “The fact that state legislators are looking at the e-sports industry and the good things that come from it is awesome to see.”

---

Copyright © 2024 Enhanced Media Management Inc. dba Greater Fayetteville Business Journal
This story may be displayed, reformatted and printed for your personal, noncommercial use only and in accordance with our Terms of Service located at https://bizfayetteville.com/useragreement.