RGF talks New Mexico Film subsidies on Fox Business Channel

The good news is that Fox Business Channel (unlike many news outlets) actually gave a platform to critics of New Mexico’s film subsidy program to discuss the program’s financial shortcomings.

The bad news is that like nearly all media outlets they badly misunderstand the financial implications of New Mexico’s incredibly-generous film subsidy program. Check out the story below which includes a brief clip of RGF president Paul Gessing discussing Hollywood film subsidies. Below that is a page from a 2019 Legislative Finance Committee report on the cost of Hollywood subsidies which provides details on the direct subsidies (not additional LEDA funds which are yet another subsidy).

In 2019 changes were enacted to New Mexico’s film program that made New Mexico’s already-generous subsidies even MORE generous. Here’s the LFC’s take on the financial implications.