New Mexico's record high production spending reaches USD855.4 million
New Mexico has seen an impressive USD855.4 million directly from production spending. Officials believe it is a result of the state’s 25% to 35% tax credit incentive as well as the efforts made by governor Lujan Grisham. Productions such as Stranger Things and Better Call Saul have also generated intertest in the state.
Governor Grisham of New Mexico, announced on 14 July 2022 that at the end of the fiscal year which ended 30 June 2022, the visual production industry’s involvement with the state had resulted in a 36% increase to last year’s spend. This is due to the combined efforts of the incentives that are available for visual creators to take advantage of when filming in the state, as well as critically acclaimed shows such as Stranger Things and Better Call Saul making use of the desert landscapes and small-town settings. Beyond the financial contribution to the production industry of New Mexico, Stranger Things season four employed 350 New Mexico crew members, 70 principal cast members, and 700 extras from the state.
Grisham stated: “Due to the work we’ve done to foster a successful environment for production and build a thriving base of talented local crews, film, and television productions from around the world are putting money directly into New Mexico communities, supporting our small businesses and creating jobs for thousands of New Mexicans,”
Netflix’s announcement of a major expansion into New Mexico is projected to bring in USD1 billion over ten years. This doubles the company’s existing commitment to the state. In addition, NBC Universal’s opening of their production facility in Albuquerque will produce a USD500 million commitment over the next ten years, as well as providing 330 full-time-equivalent jobs.
New Mexico has seen significant growth in the visual industries, attracting many professionals to the state for filming purposes. Not only is there a focus on established filmmakers, but there is also a keen interest in the development of the next generation of local creatives. With their training programme for emerging screenwriters launch in March 2022, the state has seen several productions developed and wrapped since the end of the lock down period. Despite the halt to the industry following the pandemic, the New Mexico film and television industry has not shown any signs of slowing down.
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