May 31, 2019 – Among the many pieces of legislation signed by Gov. Michelle Lujan Grisham after the legislative session is one designed to boost film and television production in the state. It raises the annual cap on tax incentives and pays off part of a backlog of rebates that grew under the Martinez Administration to more than $380 million dollars.
The changes come on the heels of Netflix’s opening of a major production hub at Albuquerque Studios. The bill exempts companies like Netflix from the annual cap on incentives if they buy or lease a production facility in the state for at least ten years. It also offers additional incentives for productions that film outside the Albuquerque/Santa Fe corridor.
Alicia J. Keyes is the state secretary for economic development and says the changes represent a new era for film and media production. In this episode she talks with NMiF correspondent Megan Kamerick about the future of the media industry in New Mexico.
Alicia J. Keyes, New Mexico Secretary of Economic Development
For Further Reading:
Governor Signs Bill Lifting Film Rebate Cap – by Adrian Gomez, Albuquerque Journal
States vying for Georgia film dollars as Hollywood threatens to leave over ‘heartbeat’ abortion bill – by Graham Vyse, Governing
Revamped Film Incentives Mean Steady Jobs For NM – by Alicia J. Keyes, Albuquerque Journal
Netflix Benefits From Changes in New Mexico’s Production Incentives – by Todd Longwell, Variety
State officials warn charging Facebook may chill economic development – by Steve Terrell, Santa Fe New Mexican