Sunday, February 11, 2007

New Mexico Film Incentives

One other little snippet of info on the New Mexico film industry ( the tax relief given to Film Producers that make movies in NM. "If you make concessions, they will come". Our previous Governors, Gary Johnson for one, started the attractions that Film producers were... well,... attracted to. Bill Richardson has been instrumental in expanding the system. There are about 5 or even more, existing, 'Film Ranches' around the Santa Fe area alone. Bonanza Creek being only one. New Mexico has inumberable extremely wealthy individuals owning 'Tax write-off' ranches. Think....Ted Turner's 'Armanderis' and work down from there.

Governor Bill Richardson (Presidential Candidate 2008) is supporting the decision and encouraging it's longevity. Rio Rancho NM is building a facility for "LIONSGATE", Another facility is proposed for the "Journal Center" area south of ABQ...Really south of the Air Terminal physically, near the big open air entertainment concert pit. Could it be just coincidence that a major Casino is not far away?
All of this is helped along with drastically lowered taxes on the film industry. Why else would they come to NM? Other states, as well as British Columbia, are also jealous and giving away stuff to entice filming as well.
British Columbia has the added advantage of a 30% weaker Canadian dollar which makes a US dollar go further by almost a third. I'm not sure about their taxes, which are exhorbitant due to the Socialist nature of their country. Gasoline is far more costly in Canada than the USA.
As long as the film industry employs 'Blogengeezer' and his friends, we are loving the states overtures to the film folks.
The press is not so sure. The press is thinking the industry will not repay the loans. So far that has not proven to be Totally true, well in one case it appears that The latest film about the 'Border with Mexico' DID NOT REPAY, "J-Lo" and her friends have been behind a little? ..Well ..more than a little,.. A lot, think Millions. I truly hope they do not set a precedent. That could threaten projects for the future.

'Lionsgate', producers of TV's 'Wildfire', now in it's fourth year, has totally repaid in full each year, earlier than anticipated. The possibility exists of course in the case of A film producer having no collateral or a record of 'not paying any one for anything'. Hopefully the people that are controlling the cash in the State of New Mexico film office, are also doing a background check on the applicants. A car loan even involves a total background check. Millions of dollars loaned should involve a more intensive proof of history in paying their debts. THE PERSON IN CHARGE OF THIS HUGE RESPONSIBLITY MUST BE OF 'IMPECCABLE CHARACTER'. Presidential candidate 2008, Bill Richardsons credibility depends on it. AM I RIGHT BILL RICHARDSON?


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