I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
A story today in the Los Angeles Times reports on how some states are reconsidering their tax breaks and other incentives for the film industry, but New Mexico isn’t among them. A study earlier this year showed the state’s aggressive incentives are paying off.
From the story:
More than 40 states offer tax breaks or rebates for film and television production, a major contributor to the sharp falloff in industry employment in Southern California.
But as those subsidies have become increasingly generous and widespread, several states are having second thoughts. Even as some states, including Louisiana and North Carolina, expand film incentives, others are rethinking their programs in the face of budget crises.
“The bottom line is, there really aren’t enough film productions in the United States for every state to play in this game, and eventually the states where it doesn’t make economic sense aren’t going to be players,” said Peter Dekom, an entertainment industry attorney who helped craft New Mexico’s successful film program.
The story mentions that New Mexico officials believe the incentives offered here have paid for themselves. The state offers a variety of aggressive incentives, and in January, a study commissioned by the state showed:
…The program earns $0.94 in additional tax revenue for each $1.00 that is paid out in incentives. Local governments in New Mexico earn $0.56 for each dollar of state credits, resulting in combined state and local tax collections of $1.50 for each $1.00 of state credits.
