Not for lack of trying, but NM loses out on “Film Subsidy” Oscars

New Mexico has extremely-generous film subsidies of 25% or 30% on the dollar depending on whether the production is a tv show or a movie. According to the Legislature’s own study, these subsidies are a money-loser, costing the state’s taxpayers $137 million between 2010 and 2014.

But it looks like New Mexico was shut out of the Oscar’s and thus, did not have any films qualify for the “Film Subsidy” Oscars as outlined in the following chart from Jared Meyer at the Washington Examiner:

As seen in the chart, the film American Sniper “won” with total taxpayer subsidies of $60 million. Alas, despite budgetary problems in Santa Fe with revenue from profitable businesses like oil and gas production falling, legislators face some tough decisions. Reducing New Mexico’s generous film subsidies is not likely to be among those “difficult” decisions.

HT: Rob Nikolewski

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