Colorado film-industry rival sweetens incentives


Assistant Editor- Albuquerque Business First

Two bills designed to boost the New Mexico film industry quietly passed the state Legislature as the session closed Saturday.

The passed legislation would extend a 30 percent tax credit to stand-alone TV series pilot episodes and makes it easier for feature film productions to qualify for the 30 percent labor credit by expanding the definition of “qualified facilities” to include outdoor movie ranches.

Both bills need a final signature from Gov. Susana Martinez.

New Mexico has been stealing movies away from Colorado for years as a shooting site, thanks in large part to its generous incentives for film production.

One example is “True Grit.” The classic 1969 original, which earned John Wayne an Oscar, was largely shot in Colorado. But when the Coen brothers set out to shoot a remake with Jeff Bridges in 2010, they chose New Mexico instead.

http://www.bizjournals.com/denver/morning_call/2015/03/colorado-film-industry-rival-sweetens-incentives.html

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