The Rio Grande Foundation has long opposed New Mexico’s film subsidies, so it was highly gratifying to have our perspective backed up by the Legislative Finance Committee’s report which found the subsidies to be ineffective at fostering economic growth.
KOAT Channel 7 did a story on the issue and gave RGF the best opportunity to explain some of the problems with New Mexico’s generous film subsidies we’ve ever had. Check it out here or below:
There is no link here that gets me to the LFC report. I think it probably has great merit but I’m not able to look at it. The question we need to answer is whether we want to destroy our film industry by removing their tax breaks. There’s been a great investment in infrastructure and thousands of people are employed there. I have an idea. How about removing the subsidies on oil that producers get by pumping on BLM land?
There IS a link in the original post and this one, but here it is: https://www.nmlegis.gov/handouts/ALFC%20092723%20Item%203%20Film%20Production%20Tax%20Credit%20Update%20and%20Analysis.pdf