Film production supports hundreds of businesses and thousands of jobs across the state. With more than $5.75 billion in production spend in New Mexico, it's one of the state's fastest-growing industries.
ESTIMATED TAX CREDITS TO BE PAID OUT PER FISCAL YEAR
NUMBER OF PRODUCTIONS BY MONTH
The New Mexico Economic Development Department and the New Mexico Film Office released and presented a new economic impact study on New Mexico’s film and television industry.
The independent study, commissioned by the New Mexico Film Office, was completed by Olsberg SPI an international creative industries consultant firm specializing in the global screen sector. The study looked at the industry from fiscal year 2020 through 2021.
Data illustrated that the New Mexico film tax incentive generated:
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An economic return on investment (ROI) of 8.4, meaning that for every $1 invested through the program, the state’s economy is benefited by $8.40. |
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For 92% of productions in New Mexico - the incentive is the most important factor decision-makers identify when choosing where to produce film and television projects. Without the film incentive, only 8% of total production would have existed in New Mexico. |
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Significant direct, indirect, and induced economic benefits and impact to New Mexico, an estimated $1.37 billion in economic output in just two years. |
