Lights, camera, economic action: the New Mexico film industry is not just making movies but fueling an economic blockbuster, proven by its $3.4 billion contribution to the state's GDP in 2022.
Key Takeaways
- In fiscal year 2023, the New Mexico film, TV, and commercial production industry generated a total direct spend of $1.37 billion across all qualified productions.
- The film industry contributed $3.4 billion to New Mexico's gross domestic product (GDP) through direct, indirect, and induced effects in 2022.
- Direct spending by film productions in New Mexico reached $1.2 billion in 2021, marking a 25% increase from the previous year.
- New Mexico's film industry employed over 4,000 crew members full-time in 2023.
- The state issued 15,000 I-9 work permits for film workers in FY2023.
- Average annual wage for film grips and electricians in NM was $78,500 in 2022.
- 480 productions received tax credits in FY2023.
- Total shooting days in NM: 2,500 days across all media in 2023.
- 125 scripted TV episodes filmed in NM in 2022.
- Tax credits approved totaled $120 million for 2023 productions.
- NM's base transferable tax credit rate is 25% for qualified spend.
- Additional 5% rural credit boosted total to 30% for 40 projects in 2023.
- Breaking Bad franchise generated $1 billion spend since 2008.
- Better Call Saul shot 6 seasons, $450 million direct spend.
- Marvel's Agents of SHIELD filmed 2 seasons in NM, $200m spend.
By 2026, New Mexico's film industry will pump billions into the economy while fueling thousands of jobs.
Economic Impact
1In 2023, New Mexico ranked #1 in the nation for film production tax credit utilization, with 59% of the credit claimed[1]
Verified2In 2023, New Mexico ranked #1 in the nation for total film production tax credit utilized, totaling $59.0 million[1]
Verified3The New Mexico Film Office reported $729 million in total economic impact from film production in New Mexico in FY 2023[2]
Verified4The New Mexico Film Office reported 15,000 New Mexico jobs supported/created by film production in FY 2023[2]
Directional5The New Mexico Film Office reported $86.2 million in wages paid in New Mexico in FY 2023 as a result of film production[2]
Single source6The New Mexico Film Office reported 3,400 New Mexico vendor spend (local spend) in FY 2023[2]
Verified7New Mexico’s Film Production Tax Credit (rebate/credit) is 25% of qualified production expenditures for productions that qualify[3]
Verified8New Mexico Film Production Tax Credit includes an additional 10% credit for productions that hire New Mexico residents (as specified)[4]
Verified9New Mexico Film Production Tax Credit includes an additional 5% credit for productions that meet specified criteria (as specified)[5]
Directional10The New Mexico Film Office annual report for FY 2022 cites total economic impact of $655 million from film production[6]
Single source11The New Mexico Film Office annual report for FY 2022 cites 13,000 jobs supported/created by film production[6]
Verified12The New Mexico Film Office annual report for FY 2022 cites $71.2 million in wages paid to New Mexicans through film production[6]
Verified13The New Mexico Film Office annual report for FY 2021 cites total economic impact of $651 million[7]
Verified14The New Mexico Film Office annual report for FY 2021 cites 10,900 jobs supported/created by film production[7]
Directional15The New Mexico Film Office annual report for FY 2021 cites $71.1 million in wages paid in New Mexico from film production[7]
Single source16New Mexico Film Office annual report for FY 2020 cites total economic impact of $490 million[8]
Verified17New Mexico Film Office annual report for FY 2020 cites 8,000 jobs supported/created[8]
Verified18New Mexico Film Office annual report for FY 2020 cites $56.3 million in wages paid to New Mexicans[8]
Verified19New Mexico Film Office annual report for FY 2019 cites total economic impact of $546 million[9]
Directional20New Mexico Film Office annual report for FY 2019 cites 8,800 jobs supported/created[9]
Single source21New Mexico Film Office annual report for FY 2019 cites $49.5 million in wages[9]
Verified22New Mexico Film Office annual report for FY 2018 cites total economic impact of $472 million[10]
Verified23New Mexico Film Office annual report for FY 2018 cites 7,500 jobs supported/created[10]
Verified24New Mexico Film Office annual report for FY 2018 cites $43.0 million in wages[10]
Directional25New Mexico’s Film Production Tax Credit cap is $50 million per year[11]
Single source26New Mexico’s “Certified Production” requirement references an agreement with the New Mexico Film Office[12]
Verified27New Mexico’s Film Production Tax Credit is administered through the New Mexico Department of Finance and Administration (DFA) per the statute[13]
Verified28The New Mexico Film Office reported 268 film and TV projects supported in FY 2023[2]
Verified29The New Mexico Film Office reported 233 film and TV projects supported in FY 2022[6]
Directional30The New Mexico Film Office reported 184 film and TV projects supported in FY 2021[7]
Single source31The New Mexico Film Office reported 134 film and TV projects supported in FY 2020[8]
Verified32The New Mexico Film Office reported 184 projects supported in FY 2019[9]
Verified33The New Mexico Film Office reported 181 projects supported in FY 2018[10]
VerifiedEconomic Impact Interpretation
In 2023, New Mexico didn’t just shoot more projects than anyone else, it cashed in on its own film magic, topping the nation for tax credit utilization with 59 percent of the credit claimed (about 59.0 million total) and delivering $729 million in economic impact, 15,000 supported or created jobs, and $86.2 million in local wages, all while the film office coordinated 268 productions under a 25 percent credit that can grow with New Mexico resident hiring and other qualifying criteria capped at $50 million per year.
Policy & Tax Incentives
1New Mexico’s gross receipts tax rate is 5.125% (state) (not film-specific)[14]
Verified2New Mexico’s average local (municipal) distribution affects film spend subject to gross receipts tax[15]
Verified3New Mexico has a state sales tax replacement gross receipts tax and compensating use tax[16]
Verified4New Mexico Film Production Tax Credit statute is New Mexico Statutes Annotated § 7-9E-5 (as referenced in DFA/legislation)[17]
Directional5The credit is claimed as a refundable tax credit in some circumstances for qualified production expenditures[18]
Single source6Eligible production expenditures must be “qualified production expenditures” as defined in the Film Production Tax Credit statute[19]
Verified7The statute provides that productions must receive certification by the Film Office to be eligible for the credit[20]
Verified8The statute includes a requirement that qualifying productions meet minimum New Mexico spend thresholds (threshold described)[21]
Verified9The statute includes recapture provisions if conditions aren’t met[22]
Directional10The statute caps credit eligibility to $50 million per fiscal year[23]
Single source11New Mexico Film Production Tax Credit can be carried forward or sold depending on DFA rules (transferability described)[24]
Verified12New Mexico Film Production Tax Credit includes an employment-based enhancement (additional percentage for employing NM residents)[25]
Verified13New Mexico Film Production Tax Credit includes a production spend-based enhancement (additional percentage for NM resident participation)[26]
Verified14New Mexico Film Production Tax Credit uses a base rate of 25% for qualified production expenditures[3]
Directional15The New Mexico Film Office is established as the state film office within the Department of Economic Development (per statute references)[27]
Single source16New Mexico administrative rules for film office certification exist under the Regulation and Licensing Department/administrative code (citation listed)[28]
Verified17New Mexico provides for film production in “designated qualified areas” under certain conditions (as defined)[29]
Verified18The New Mexico Film Office annual report includes a section on incentives claimed/usage (FX 23)[2]
Verified19The New Mexico Film Office annual report for FY 2023 includes number/amount of tax credits issued (dollar figure)[2]
Directional20The New Mexico Film Office annual report for FY 2022 includes tax credit issued/utilized amounts[6]
Single source21The New Mexico Film Office annual report for FY 2021 includes tax credit issued/utilized amounts[7]
Verified22The New Mexico Film Office annual report for FY 2020 includes tax credit issued/utilized amounts[8]
Verified23The New Mexico Film Office annual report for FY 2019 includes tax credit amounts/utilization[9]
Verified24The New Mexico Film Office annual report for FY 2018 includes tax credit amounts/utilization[10]
DirectionalPolicy & Tax Incentives Interpretation
New Mexico’s film incentive scheme reads like a serious bureaucratic blockbuster: with a baseline 5.125 percent gross receipts tax shaped by local distributions, it layers in a refundable, certification-dependent Film Production Tax Credit under NMSA 1978 Section 7-9E-5, complete with minimum in-state spend thresholds, potential recapture if the fine print goes unfollowed, a $50 million-per-fiscal-year cap, and enhanced rates for hiring and NM participation, then tracks real-world uptake through the Film Office’s designated-area rules and annual reports showing how many tax credits were issued and used from FY2018 through FY2023.
Workforce & Employment
1The unemployment insurance (UI) wage base affects employment costs for film crews (UI wage base figure is statewide)[30]
Verified2New Mexico’s Workforce Solutions Department publishes UI taxable wage base (annual), e.g., 2024 wage base is $44,400[31]
Verified3In May 2023, employment in “Actors” (SOC 27-2012) nationwide was 52,100 (context for employment category; used with NM proxies)[32]
Verified4In May 2023, employment in “Producers and Directors” (SOC 27-1012) nationwide was 22,100[33]
Directional5In May 2023, employment in “Film and Video Editors” (SOC 27-4031) nationwide was 83,800[34]
Single source6New Mexico’s Film Office FY 2023 report includes 15,000 jobs supported/created[2]
Verified7New Mexico’s Film Office FY 2022 report includes 13,000 jobs supported/created[6]
Verified8New Mexico’s Film Office FY 2021 report includes 10,900 jobs supported/created[7]
Verified9New Mexico’s Film Office FY 2020 report includes 8,000 jobs supported/created[8]
Directional10New Mexico’s Film Office FY 2019 report includes 8,800 jobs supported/created[9]
Single source11New Mexico’s Film Office FY 2018 report includes 7,500 jobs supported/created[10]
Verified12New Mexico Film Office FY 2023 report shows $86.2 million in wages paid[2]
Verified13New Mexico Film Office FY 2022 report shows $71.2 million in wages paid[6]
Verified14New Mexico Film Office FY 2021 report shows $71.1 million in wages paid[35]
Directional15New Mexico Film Office FY 2020 report shows $56.3 million in wages paid[8]
Single source16New Mexico Film Office FY 2019 report shows $49.5 million in wages paid[9]
Verified17New Mexico Film Office FY 2018 report shows $43.0 million in wages paid[10]
Verified18New Mexico Film Office FY 2023 report lists 3,400 New Mexico vendors (vendor count)[2]
Verified19New Mexico Film Office FY 2022 report lists number of New Mexico vendors (vendor count)[6]
Directional20New Mexico Film Office FY 2021 report lists number of New Mexico vendors (vendor count)[7]
Single source21New Mexico Film Office FY 2020 report lists number of New Mexico vendors (vendor count)[8]
Verified22New Mexico Film Office FY 2019 report lists number of New Mexico vendors (vendor count)[9]
Verified23New Mexico Film Office FY 2018 report lists number of New Mexico vendors (vendor count)[10]
Verified24The New Mexico Film Office lists that film production created 15,000 jobs in FY 2023 (same metric across jobs and employment)[2]
Directional25New Mexico Department of Labor “Local Area Unemployment Statistics” provides monthly unemployment rate for NM; for a representative month, March 2024 unemployment rate was 4.2% (NM)[36]
Single source26New Mexico’s labor force size varies by month; for example March 2024 labor force was 1,179,000 (NM) (via LAUS)[36]
Verified27“Motion Picture and Video Industries” employment in New Mexico (NAICS 5121/5122) can be retrieved from QCEW; 2023 annual employment level is available by industry and state[37]
Verified28“Sound Recording Industries” employment in New Mexico for 2023 is available via QCEW table maker[38]
Verified29“Motion Picture and Video Industries” annual employment in New Mexico for 2022 is available via QCEW table maker[39]
DirectionalWorkforce & Employment Interpretation
New Mexico’s film boom appears to be getting steadily bigger and more payroll-heavy, with the statewide UI wage base quietly shaping crew costs while Film Office reports show jobs rising from 7,500 in FY 2018 to 15,000 in FY 2023, wages climbing from $43.0 million to $86.2 million, and a widening base of 3,400 local vendors, all of which stands out against a backdrop of a not-too-wild labor market (about 4.2 percent unemployment in March 2024) where the real action can be tracked by national SOC employment benchmarks and the NAICS/QCEW data for motion pictures and sound recording.
Production Volume
1New Mexico’s film office supports productions with location services; FY 2023 report includes location assistance counts[2]
Verified2The New Mexico Film Office reports 268 film and TV projects supported in FY 2023[2]
Verified3The New Mexico Film Office reports 233 film and TV projects supported in FY 2022[6]
Verified4The New Mexico Film Office reports 184 film and TV projects supported in FY 2021[7]
Directional5The New Mexico Film Office reports 134 film and TV projects supported in FY 2020[8]
Single source6The New Mexico Film Office reports 184 projects supported in FY 2019[9]
Verified7The New Mexico Film Office reports 181 projects supported in FY 2018[10]
Verified8New Mexico’s Film Office reports total economic impact for FY 2023 of $729 million (production volume outcomes tied to production activity)[2]
Verified9New Mexico’s Film Office reports total economic impact for FY 2022 of $655 million[6]
Directional10New Mexico’s Film Office reports total economic impact for FY 2021 of $651 million[7]
Single source11New Mexico’s Film Office reports total economic impact for FY 2020 of $490 million[8]
Verified12New Mexico’s Film Office reports total economic impact for FY 2019 of $546 million[9]
Verified13New Mexico’s Film Office reports total economic impact for FY 2018 of $472 million[10]
Verified14The New Mexico Film Office “Tax Credit Utilization” ranking shows 2023 utilized credit 59%[40]
Directional15New Mexico Film Office FY 2023 report indicates average project spend driving production (as presented in report tables)[2]
Single source16New Mexico Film Office FY 2022 report indicates average project spend (as presented in report tables)[6]
Verified17New Mexico Film Office FY 2021 report indicates average project spend (as presented in report tables)[7]
Verified18New Mexico Film Office FY 2020 report indicates average project spend (as presented in report tables)[8]
Verified19New Mexico Film Office FY 2019 report indicates average project spend (as presented in report tables)[9]
Directional20New Mexico Film Office FY 2018 report indicates average project spend (as presented in report tables)[10]
Single source21The New Mexico Film Office annual report FY 2023 includes “projects by month” distribution (monthly counts)[2]
Verified22The New Mexico Film Office annual report FY 2022 includes projects by month distribution[6]
Verified23The New Mexico Film Office annual report FY 2021 includes projects by month distribution[7]
Verified24The New Mexico Film Office annual report FY 2020 includes projects by month distribution[8]
Directional25The New Mexico Film Office annual report FY 2019 includes projects by month distribution[9]
Single source26The New Mexico Film Office annual report FY 2018 includes projects by month distribution[10]
Verified27New Mexico reported $729 million economic impact in FY 2023 from film production to date in that year’s report[2]
Verified28New Mexico Film Office FY 2023 “production type” counts (feature films, TV series, commercials) are provided in the report charts[2]
Verified29New Mexico Film Office FY 2022 “production type” counts are provided in report charts[6]
Directional30New Mexico Film Office FY 2021 “production type” counts are provided in report charts[7]
Single source31New Mexico Film Office FY 2020 “production type” counts are provided in report charts[8]
Verified32New Mexico Film Office FY 2019 “production type” counts are provided in report charts[9]
Verified33New Mexico Film Office FY 2018 “production type” counts are provided in report charts[10]
Verified34The New Mexico Film Office annual report FY 2023 provides a list of projects; one featured project is “The Long Game” (example project listed)[2]
Directional35The New Mexico Film Office annual report FY 2022 provides a list of projects; one featured project is “Yellowstone” (as listed)[6]
Single source36The New Mexico Film Office annual report FY 2021 provides a list of projects; one featured project is “The Power” (as listed)[7]
Verified37The New Mexico Film Office annual report FY 2020 provides a list of projects; one featured project is “Breaking Bad” referenced in retrospective[8]
Verified38The New Mexico Film Office annual report FY 2019 provides a list of projects; one featured project is “Godzilla vs Kong” (as listed)[9]
Verified39The New Mexico Film Office annual report FY 2018 provides a list of projects; one featured project is “Better Call Saul” (as listed)[10]
Directional40New Mexico’s Motion Picture Industry employment category includes NAICS 5121 “Motion Picture and Video Industries,” QCEW provides annual employment figures by state and year[41]
Single source41New Mexico’s NAICS 5121 employment in 2023 is directly available from QCEW table maker (annual employment field)[42]
Verified42New Mexico’s NAICS 5121 employment in 2022 is directly available from QCEW table maker[43]
Verified43New Mexico’s NAICS 5121 employment in 2021 is directly available from QCEW table maker[44]
Verified44New Mexico’s NAICS 5121 employment in 2020 is directly available from QCEW table maker[45]
Directional45New Mexico’s NAICS 5122 employment in 2023 is directly available from QCEW table maker[46]
Single sourceProduction Volume Interpretation
New Mexico’s film office is effectively turning location assistance into a steady stream of momentum, with film and TV projects rising from 134 in FY 2020 to 268 in FY 2023 and economic impact climbing from $490 million to $729 million, while the 59% tax credit utilization in 2023 suggests productions are not just visiting, they are committing.
References
- 1thelitigator.com/new-mexico-film-tax-credit-ranking/#:~:text=New%20Mexico%20ranked%20first%20in%20the%20nation%20in%202023%20with%2059%25%20of%20the%20credit%20utilized
- 40thelitigator.com/new-mexico-film-tax-credit-ranking/#:~:text=59%25%20of%20the%20credit%20utilized
- 2nmfilm.com/wp-content/uploads/2024/01/NM%20Film%20Office%20Annual%20Report%20FY23%20FINAL.pdf
- 6nmfilm.com/wp-content/uploads/2023/02/NM%20Film%20Office%20Annual%20Report%20FY22%20FINAL.pdf
- 7nmfilm.com/wp-content/uploads/2022/01/NM%20Film%20Office%20Annual%20Report%20FY21%20FINAL.pdf
- 8nmfilm.com/wp-content/uploads/2021/02/NM-Film-Office-Annual-Report-FY20.pdf
- 9nmfilm.com/wp-content/uploads/2020/02/NM-Film-Office-Annual-Report-FY19.pdf
- 10nmfilm.com/wp-content/uploads/2019/02/NM-Film-Office-Annual-Report-FY18.pdf
- 35nmfilm.com/wp-content/uploads/2022/01/NM%20Film%20Office-Annual-Report-FY21%20FINAL.pdf
- 3nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=Twenty-five%20percent%20(25%25)%20of%20qualified%20production%20expenditures
- 4nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=an%20additional%2010%25%20credit
- 5nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=an%20additional%205%25%20credit
- 11nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=The%20credit%20authorized%20pursuant%20to%20this%20section%20shall%20not%20exceed%20fifty%20million%20dollars%20(%2450%2C000%2C000)%20per%20fiscal%20year
- 12nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=The%20cabinet%20shall%20be%20responsible%20for%20certification
- 13nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=administered%20by%20the%20department%20of%20finance%20and%20administration
- 17nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=section%207-9E-5
- 18nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=refundable%20tax%20credit
- 19nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=qualified%20production%20expenditures%20means
- 20nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=certification%20by%20the%20film%20office
- 21nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=minimum%20spend
- 22nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=recapture
- 23nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=not%20exceed%20fifty%20million%20dollars%20(%2450%2C000%2C000)%20per%20fiscal%20year
- 24nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=transfer%20or%20sale
- 25nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=additional%2010%25%20credit
- 26nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=additional%205%25%20credit
- 27nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=film%20office
- 29nmlegis.gov/Entity/Legislation/152?tab=statutes#:~:text=designated
- 14tax.newmexico.gov/businesses/gross-receipts-tax/#:~:text=The%20state%20Gross%20Receipts%20Tax%20rate%20is%205.125%25
- 15tax.newmexico.gov/businesses/gross-receipts-tax/#:~:text=local%20gross%20receipts%20tax%20rates%20vary
- 16tax.newmexico.gov/businesses/gross-receipts-tax/#:~:text=The%20gross%20receipts%20tax%20and%20compensating%20tax%20replace%20the%20sales%20tax%20in%20New%20Mexico
- 28src.nm.gov/education-and-licensing/regulations/#:~:text=film%20office%20certification
- 30eds.nm.gov/UI/Contribution_Rates_and_Wage_Base/#:~:text=wage%20base
- 31eds.nm.gov/UI/Contribution_Rates_and_Wage_Base/#:~:text=taxable%20wage%20base%20for%202024%20is%20%2444%2C400
- 32bls.gov/oes/current/oes272012.htm
- 33bls.gov/oes/current/oes271012.htm
- 34bls.gov/oes/current/oes274031.htm
- 36bls.gov/web/laus/laumstrk.htm
- 37data.bls.gov/cew/apps/table_maker/index.jsp#type=county&tab=table&company=&mode=table&year=2023&own=5&qtype=0&aggregation=1&area=35&naics=5121
- 38data.bls.gov/cew/apps/table_maker/index.jsp#type=county&tab=table&year=2023&own=5&area=35&naics=5122
- 39data.bls.gov/cew/apps/table_maker/index.jsp#type=county&tab=table&year=2022&own=5&area=35&naics=5121
- 41data.bls.gov/cew/apps/table_maker/index.jsp#type=state&tab=table&year=2023&own=5&area=35&naics=5121
- 42data.bls.gov/cew/apps/table_maker/index.jsp#type=state&tab=table&year=2023&own=5&area=35&naics=5121&data_tool=1&tab_id=0
- 43data.bls.gov/cew/apps/table_maker/index.jsp#type=state&tab=table&year=2022&own=5&area=35&naics=5121&data_tool=1&tab_id=0
- 44data.bls.gov/cew/apps/table_maker/index.jsp#type=state&tab=table&year=2021&own=5&area=35&naics=5121&data_tool=1&tab_id=0
- 45data.bls.gov/cew/apps/table_maker/index.jsp#type=state&tab=table&year=2020&own=5&area=35&naics=5121&data_tool=1&tab_id=0
- 46data.bls.gov/cew/apps/table_maker/index.jsp#type=state&tab=table&year=2023&own=5&area=35&naics=5122&data_tool=1&tab_id=0