New Mexico is already among the most “generous” states in the nation when it comes to film subsidies. It is also economically-far weaker than any of its neighbors (which are growing faster and have higher personal incomes).
And, with New Mexico’s Legislature planning to spend $380 million on film AND eliminate the $50 million cap on film subsidies, a story detailing recent events in Colorado caught my eye.
Colorado barely subsidizes film currently to the tune of $750,000. But, in November the State elected Jared Polis a left-wing “progressive” who, among other things wanted to grow the film subsidy program. Well, the Democrat-controlled Colorado Legislature just rejected a proposal that would have increased the State’s film subsidy to $2 million annually.
Fiscal sanity prevailed with Democrats rejecting a film subsidy program that is a tiny fraction of what New Mexico already has on the books. What will happen to New Mexico’s truly egregious SB 2?
Got to waste a LOT of money really foolishly to catch Bill Richardson and his waste; playing catch-up! This group of people elected in 2018 is about the worst I have seen in 50 years, and I a democrat for that same period.
This single-party state desired by left-progressives (By 1893 definition, “collectivists”) is rapidly approaching California in its spiral down to a feudal society.
The argument for film subsidies is that they bring jobs and spending to our state.
The fallacy is that unless we fund them enough to draw a steady stream of films, the jobs created are only sporadic and part-time, and nearly impossible to work around other jobs.
Too often projects (like Topgolf) are promoted by the number of jobs they create. The problem with that is that this state needs no more “hobby jobs”—part time, unpredictable, sporadic jobs. We need jobs that people can budget around.
Don’t know the answer here, but my thought is either seriously fund, or don’t fund at all. And, ask questions about the type of jobs that are being created when that is supposed to be a selling point.
Thanks for your comment. My organization fought pretty hard against the TopGolf subsidies: http://riograndefoundation.org/errorsofenchantment.com/topgolf-a-case-study-in-misguided-economic-development/
We are generally of the mindset that subsidies and tax breaks are counteproductive, but New Mexico is so far behind in terms of its overall economic policies that we understand some are going to be demanded by businesses. We strongly oppose ALL outlays of our tax dollars (film subsidies and part of Top Golf as well as LEDA). Tax credits and exemptions are judged on a case-by-case basis.