Replies to This Discussion

Permalink Reply by Benny the Icepick on January 30, 2013 at 9:57am

I'm a big fan of the film subsidy.  Brings a lot of good-paying jobs into the state, ranging from entry level positions to very technical jobs.  It increases our exposure, so that maybe one day people will realize that we are neither in Arizona nor in Mexico.  And, bottom line, the subsidy brings in a LOT more money than it gives up.  If spending a quarter earns you a dollar, isn't that worth it?

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Permalink Reply by misterhinkydink on January 30, 2013 at 3:04pm

Do you have any data showing the subsidy brings in more than it pays out?

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Permalink Reply by K on January 30, 2013 at 3:32pm

If you go to the New Mexico Film Office website and click on incentives then click on statistics, you'll clearly see that we are making money on this endeavor and putting people to work.  I believe with lifting the cap could even bring in more productions, provide more jobs and increase state revenues.

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Permalink Reply by misterhinkydink on January 31, 2013 at 7:52am

Look at this 2008 report to the state Legislative Finance Committee that says we get about $0.14 on the dollar. Also, read this.

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Permalink Reply by Phil_0 on January 30, 2013 at 8:26pm

I'm not sure about the direct payback to the state from successful films, but it would seem like subsidiary spending - on services, on lodging and apartment rentals, on restaurants and catering - must far exceed what gets "paid out." Unfortunately, it's also harder to quantify. Tim Keller tried to push for a more thorough investigation of the movie industry's impact on Albuquerque and NM in the midst of the debate a couple years ago, but I don't think he got very far.

As far as paying out goes - remember films are required to repay the state's subsidy regardless of how they do...

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Permalink Reply by misterhinkydink on January 31, 2013 at 10:41am

They're required to repay the loan if there was one and that's at the prime rate + 1.5%. The 25 percent tax credit is just that.

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Permalink Reply by RebLem on January 30, 2013 at 1:44pm

Another good thing about having a lot of film made here is that actors like good food, and so its a stimulus for our restaurant industry.  I agree with all the arguments for lifting the cap and the benefits it would have, but I do appreciate Gov. Martinez's point that an open ended subsidy creates a great deal of budget uncertainty.  I think a good compromise would be to raise it to $100 million.

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Permalink Reply by K on January 30, 2013 at 3:34pm

I like the compromise, $100 mil sounds great, just dont think our Gov does much compromising. To me she is a do nothing Guv when it comes to the economy.  

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Permalink Reply by Benny the Icepick on January 30, 2013 at 3:55pm

I'm really cruddy with numbers.  How much blue meth candy does $100m buy?

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Permalink Reply by DCMc on January 30, 2013 at 5:04pm

Lots of film and TV production in the state is also good for the hotel business, car rental business, house and apt. rentals even the secondhand junk malls do well because they are full of props that the film people need to fill their sets. Martinez needs to wake up and start really supporting the TV/film industry in the state. 

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Permalink Reply by SteveJ on January 30, 2013 at 5:41pm

I am torn with the film subsidy. I'd rather see subsidies used for something society needs---like better public transportation or paying for solar panels. How many more crappy hollywood movies do we need?

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Permalink Reply by SteveJ on January 30, 2013 at 5:58pm

Interesting story about movie subsidies providing a lung cancer subsidy.

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