Film production supports hundreds of businesses and thousands of jobs across the state. With more than $600 in direct spend, it's one of New Mexico's fastest-growing industries.
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:
|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.|
92% of productions in New Mexico - the incentive is the most important factor identified by decision-makers when choosing where to produce film and television projects. Only 8% of total production would have existed in New Mexico without the film incentive.
|Significant direct, indirect, and induced economic benefits and impact to New Mexico, an estimated $1.37 billion in economic output in just two years.|