New Mexico’s film industry is a vital part of the state’s economy, providing well-paying jobs and benefits to thousands of working families. As the president of IATSE local 480, I have seen firsthand the dedication and pride that our state’s skilled professionals bring to their craft.
The Importance of the Film Tax Credit
The New Mexico film tax credit is a crucial incentive that has helped to establish the state as a key player in the film industry. The credit reimburses productions for a portion of their in-state spending, such as wages, rentals, and local services. This incentive has created a sustaining sector of economic development and has inspired other states to follow suit.
Without the tax incentive, working families across New Mexico would be harmed. The film industry is a powerful economic engine, and the tax credit is its fuel. The value of this industry extends far beyond cameras and lights, providing skilled careers and a sense of pride for New Mexicans.
As the film industry continues to evolve, it is essential that we protect and preserve the New Mexico Film Incentive. This will ensure that our state remains competitive and continues to attract productions, supporting local businesses and working families.
Original reporting: Las Cruces Sun News (HLL/CB) — read the source article.
