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.
An article in The New York Times this week undoubtedly caught the eye of New Mexico officials who’ve been touting the success of the state’s active film industry. The lead to the story goes like this:
Already on the hook for billions to bail out Wall Street, taxpayers are also finding themselves stuck with a growing tab for state programs intended to increase local film production.
The article points most of its attention at Michigan and Louisiana, while mentioning New Mexico as a relative success.
In Michigan, lawmakers are complaining that the state gave too much in rebates. In Louisiana, part of the problem seems to be that good ol’ bribe and kickback business that never seems to veer too far from the headlines here at home.
The Times reports:
New Mexico officials boast of having used a 25 percent production-cost rebate to build a local film industry that has attracted more than $600 million in direct spending since 2003, and an estimated $1.8 billion in total financial impact, as of last June. And in fiscal year 2008, the productions in the state generated 142,577 days of employment, up from 25,293 in 2004.
Michigan, on the other hand, began offering 40 percent this past April, and now the Legislators are calling for a cap on film-industry rebates at $50 million per year.
A New Mexico film industry professional familiar with our state’s program said there is no cause for jitters here. “Michigan gave too much in rebates,” he said, speaking on condition of anonymity. “Everyone told them that.”
New Mexico currently does not have a cap on the annual amount of rebates that can be paid to film and television producers. The state has offered some figures regarding film industry contributions to the local economy, but without being able to track the ancillary spending for housing and purchasing disposable goods, etc., it is likely these are “stunningly flawed” figures, said the industry professional. The implication being that the film-industry economic boost would appear lower than it truly is.
Meanwhile, the industry professional said our state is currently contracting with auditing firm Ernst & Young to deliver a more dynamic scoring for the true economic impact of the film industry here in Tamalewood. Good luck with that.
