New Mexico’s film industry makes Hollywood nervous
“Unlike scores of states seeking film shoots that pack up and leave when they are finished, New Mexico is zeroing in on the nuts and bolts of Hollywood,” the Times reports. “By luring the support companies that form the bedrock of the
The state has seen some success: Sony Pictures Imageworks is planning to move more than 100 jobs from the
And Lions Gate Entertainment is preparing to build a $15-million production center in Rio Rancho. That’s being done with a gift of 20 acres of land from the city and a $10-million loan from the state.
“A decade ago,
The article says production in
The Times gives Gov. Bill Richardson most of the credit, pointing out that he pushed “one of the most generous tax rebate programs in the country” and has worked with the Legislature to provide other incentives.
The state says the program is operating in the black. Since 2003, it has received $50 million in tax revenue while paying out $33 million in incentives.
As far as I can tell, those figures don’t include local incentives like Rio Rancho’s land donation, but also don’t take into account the estimated financial effect.
New Mexico’s film and television business is a fraction of California’s, but the state now ranks in the top five in film activity in the nation, the Times reports.
“When a well-established company like Sony considers relocating or expanding into another area, that’s very concerning,” California Film Commission Director Amy Lemisch told the Times. “It’s a brick-and-mortar kind of business. The absence of financial incentives in
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