By Benjamin Rodefer
I wanted to respond to the ongoing discussion about the state’s film incentives. There has been call for their immediate repeal. I believe that would be entirely premature and misguided. In these extraordinarily difficult times, how can we blindly risk losing thousands of high paying jobs and hundreds of millions of dollars, money so essential to the stability and future of our economy?
What we should do, though, is investigate further the efficacy of these incentives, which is precisely why I introduced and we passed in the last session House Memorial 112, creating the new interim Film, Art and Culture Committee.
New Mexico is steeped in history and culture. The arts and cultural activities contribute over $3 billion to our economy and create over 60,000 jobs. We are one of the top three art markets in the country. The film industry incentives have brought great economic opportunities to our state ($253,000,000 and thousands of jobs for New Mexicans).
The question is, do we really understand these businesses, their economies, and how we can best support them? Is our current film production tax credit the best and most fiscally prudent way to support that industry, or is there perhaps an even more productive approach? Art galleries bring in over $1 billion a year. Is there a way for us to support and expand that part of our economy?
These are all good questions, important questions, ones we need to answer. Thus this new committee is absolutely vital to our state and its cultural and economic future.
This is a committee that will bring great benefit to our economy and the preservation and future of our wondrous and diverse culture, who we are and who we will become.
The Legislative Council must give final approval to the new committee and assign members to it. There are a fair number of representatives and senators who have already requested the new committee, but it is still up to leadership to follow through and allow us to investigate these absolutely vital revenue- and job-producing industries.
For us to make informed decisions during the legislative session, for us to best help and guide these our top industries, for us to intelligently protect the fiscal interests of our hard working citizens, we absolutely have to have a much more detailed understanding of these businesses and the part we can play in their success. Here’s hoping the Legislative Council sees wisdom in finalizing creation of the new Film, Art and Culture Committee.
Rodefer is a Democratic House member from Corrales.