New Mexico's inward investment from film and TV production hits record high

Direct spend into the New Mexico economy by the film, TV and digital media production industry reached a new record of $855.4m in fiscal year (FY) 2022, an increase of 36% on the previous year, according to governor Michelle Lujan Grisham. 

Additionally, as a direct result of legislation led by the governor in 2019 that provides an additional 5% tax credit for productions outside the Albuquerque/Santa Fe corridor, New Mexico’s rural communities saw a 660% increase in direct spending from the film and TV industry, increasing from $6.5m in FY21 to nearly $50m in FY22.

The most recent data also shows a record number of industry worker hours in New Mexico, a 22% increase from FY21; a new high for total productions filmed in the state (55 films and 54 TV series); and the most money ever spent by film and TV producers working in rural communities.

Commenting on the economic achievement, governor Lujan Grisham said: “Another record year for film and television industry spending makes it as clear as ever that New Mexico is the place to be for film and TV.

“Due to the work we’ve done to foster a successful environment for production and build a thriving base of talented local crews, film and television productions from around the world are putting money directly into New Mexico communities, supporting our small businesses and creating jobs for thousands of New Mexicans.”

Senate Bill 2, enacted by Grisham in 2019, also incentivised production companies to collaborate with the state through long-term partnership agreements, capital investment, workforce development, and job training. Since the Bill was enforced, Netflix announced a major expansion in the state with a commitment to spend another $1b over 10 years, doubling the company’s original commitment to the state. NBCUniversal also opened a production facility in Albuquerque with a commitment to $500m in direct production spend over the next 10 years and 330 full-time-equivalent jobs.

Economic Development Department Secretary Alicia J. Keyes said: “[Grisham] is delivering better jobs and a more sustainable economy for New Mexicans. [The state] is now front and center for film and television production and that means jobs, private sector investment, job training, and economic growth for communities and small businesses across the entire state.

Amber Dodson, director of the New Mexico Film Office added: “With the success of Breaking Bad, Better Call Saul, Stranger Things, Dark Winds, Outer Range, and many other shows and films, New Mexico has established itself as a place with one-of-a-kind locations, skilled crews, and film-friendly small businesses that can propel stories to the highest level.