Bill would help New Mexico steal California film jobs
- The entire world is stealing film industry jobs from high tax and over regulated California.
- Anti-business Democrats are clueless as entertainment industry jobs flood out of state.
Supporters have dubbed it the "Breaking Bad" bill.
For five seasons, the AMC TV series has been a hit for the cable network and an economic boon to the state of New Mexico, where the drama starring Bryan Cranston is set and produced.
|GOP Governor Susana Martinez|
is eagerly stealing California jobs.
Now that the series is shooting its final season, however, New Mexico is attempting to beef up its film incentive to attract new dramas to help restore the state's position as one of the leading destinations for film production outside of California.
State legislators recently unanimously approved a bill that would boost New Mexico's TV production refundable tax credit to 30% from 25%. The incentive works like a rebate, giving filmmakers credit toward what they spend on crews and vendors in the state.
To qualify, TV productions would have to film at least six episodes in New Mexico and hire local crews reports the Los Angeles Times.
The credit also allows producers to bring in outside crews so long as they make a good faith effort to hire in state and contribute to local job training programs.
Producers of feature films also could get an additional 5% rebate on what they spend to hire local crews.
If the state Senate and New Mexico Gov. Susana Martinez approve the bill, it could be passed as early as the spring, raising the competitive stakes for California, which offers a tax credit of 20% to 25% of qualified spending.
|Iowa GOP Gov. Terry Branstad|
came to California to take jobs away.
The proposed legislation comes at a time when Los Angeles already has seen a sharp falloff in production of one-hour dramas and television pilots because of competition from New York and other states.
The proposed legislation also is intended to put New Mexico in a more competitive position relative to other states, especially Georgia, Louisiana and New York, that already offer a 30% credit.
New Mexico still attracts some big productions — "The Avengers" and "The Lone Ranger" filmed there — because of its proximity to L.A., its local crew base and varied geography.
But it's no longer considered the chief rival to California as it was five years ago, when Gov. Bill Richardson, a Democrat, aggressively courted the film industry with rebates, loans and job training programs.
Massive new production facilities sprouted, and several vendors and support companies followed suit.
Iowa Governor Terry E. Branstad On Why His State is a Top State for Business
|Shows like The Walking Dead have fled high tax |
California for tax friendly Georgia.
|Filmed in tax friendly Canada.|
|Filmed in tax friendly New Mexico.|
The filmmakers had originally intended to begin filming on in Budapest or Australia, but a 25 percent tax rebate and absence of an interest rate cap and floor made the filmmakers seek the cheaper New Mexico.
|Filmed in tax friendly Georgia.|