A Box-Office Bomb for Taxpayers

We didn’t need more evidence that New Mexico’s welfare-for-Hollywood is a disaster. But we just got some.

Today the Albuquerque Journal reported that a new study, “conducted by the Canadian accounting firm MNP and [relying] on payroll data, industry interviews and financial reports filed with the New Mexico Film Office,” found that “total statewide spending on goods and services by … film and television productions declined from 2011 through 2014, with $118.7 million being spent in the 2011 budget year and $82.8 million being spent in 2014.” In addition, direct employment fell between the 2010 and 2014 fiscal years.

Errors of Enchantment ran the numbers recently, and came to the same conclusion.

Curiously — or maybe, not — MNP’s study is not available on the website of the New Mexico Film Office. Nor is it accessible via the New Mexico Economic Development Department. The Foundation has requested, via phone and email, a PDF of the study. Stay tuned….

Update: We’ve obtained the study. Some findings not covered in the Journal‘s story:

* Production spending in New Mexico declined from $276.7 million in 2011 to $162.1 million in 2014.

* New Mexico residents accounted for just 46 percent of performing artists, 35 percent of “key creative” employees, and 24 percent of post-production staffers.

* Production spending by region of the state was 5.3 percent in the northeast, 2.5 percent in the northwest, 0.3 percent in the southeast, and 0.5 percent in the southwest. Congrats, taxpayers in Raton, Farmington, Hobbs, and Deming!