The state with the iconic landscapes launched its incentives 16 years ago, and last year, Gov. Michelle Lujan Grisham helped pass SB2, which more than doubled the state’s annual cap on its 25% to 30% refundable tax credit to $110 million, and added a 5% uplift for shooting outside the Albuquerque-Santa Fe urban corridor.
Rural communities such as San Juan County benefited from this uplift, and saw “Jumanji: The Next Level” shoot there.
The state also created New Mexico Partners, a public-private partnership in which big producers commit to New Mexico for 10 years, and either buy or sell a studio and give the government a job commitment.
“Our first one was Netflix, they bought Albuquerque Studios and they committed to spend $1 billion over 10 years. They came in force,” says Alicia J. Keyes, New Mexico cabinet secretary of economic development, who works directly with the entertainment industry. “They’ve honored that commitment. They also have a minimum spend-per-year.
Rural communities such as San Juan County benefited from this uplift, and saw “Jumanji: The Next Level” shoot there.
The state also created New Mexico Partners, a public-private partnership in which big producers commit to New Mexico for 10 years, and either buy or sell a studio and give the government a job commitment.
“Our first one was Netflix, they bought Albuquerque Studios and they committed to spend $1 billion over 10 years. They came in force,” says Alicia J. Keyes, New Mexico cabinet secretary of economic development, who works directly with the entertainment industry. “They’ve honored that commitment. They also have a minimum spend-per-year.
- 5/14/2020
- by Carole Horst
- Variety Film + TV
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