Tag Archives: economic development

The Line: NBCUniversal Film and TV Project Comes to Albuquerque

Line NBC Universal In NM

June 21, 2019 – Last week, NBCUniversal announced plans to expand its film and TV production with a multimillion-dollar project in downtown Albuquerque. The state is investing up to $7.7 million along with $3 million from Albuquerque in Local Economic Development Act (LEDA) funding to convert a present warehouse into a state-of-the-art studio. In return for these investments and additional tax incentives, NBCUniversal has committed to $500 million dollars of spending over the next decade, more than 300 full-time jobs at good wages, and $55,000 per year into training programs.

While the Albuquerque City Council voted unanimously to approve the city’s share of the funding, not everyone is on board with the investment, including the Rio Grande Foundation, a tax watchdog group. Gene Grant and the Line opinion panelists weigh in on whether they think it’s a good economic deal for New Mexico.

Line Panelists:
Janice Arnold-Jones, former NM state representative
Tom Garrity, The Garrity Group PR
Giovanna Rossi, Collective Action Strategies, “The Well Woman Show” (KUNM)
Harry Van Buren, UNM Anderson School of Management

For Further Reading:

City Council approves NBCUniversal incentive package – by Ron Davis, Albuquerque Business First

UPDATED: Getting NBCUniversal to open ABQ studio was a race to the finish – by Ron Davis and Rachel Sams, Albuquerque Business First

City council votes yes, bringing NBC Universal and over 300 jobs to Duke CityKOAT 7

Alicia Keyes Tells of New Era for Film and Media Production

Film Industry

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.

Guest:
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

Pictures Worth a Thousand Jobs: Netflix’s Blockbuster Deal with ABQ Studios is Poised to Bring Thousands of Jobs to New Mexico – by Ryan Williams MovieMaker