There aren’t only tech companies and residents who are running from the high taxes in California. Hollywood is now also looking forward towards the East to create strong content. Movies and Film studios are also ready to moves toward New Mexico. Whereas on either hand Tamalewood is taking the advantage of the situation and is ready for the 35 percent tax incentive.
Hollywood Leaving California
There two big entertainment companies that have been built their studio in Albuquerque in the last years and the companies are Netflix and NBCUniversal. As we all know that world is suffering from the Covid-19 pandemic hence this might be a reason for such a drastic situation in the world. Let us tell you despite the epidemic there are 26 film and 24 television projects fetched in the market or a state, as per the New Mexico Economic Development Department.
We can say that Enattetiankment companies still created their content to keep their audience entertained and stress-free during the lockdown. Well, this is highly appreciated by the audience. The entertainment industry took the help of Ott platforms to produces their content and reach their viewers.
New Mexico successfully generated $623 million in the year 2021 even in the pandemic situation also. This is the thing to be amazed at and heads f t the makers of the entertainment world. Alicia Keyes has given a statement and she has been stated that “that is something to be counted as money coming in Mexico from outside.” Whereas some the local leaders are against the taxpayer dollars to charge in the entertainment or film industry.
The president of the Rio Grande Foundation Mr. Paul Gessing, said that “it’s great to attract people to the film industry but then what about investing such big amounts in the business?” He further added that they aren’t focusing and keeping business growth in their minds.
Netflix release a comment that it will be going to spend $2 billion in the upcoming years in New Mexico. Whereas the expectations of the state are different to just out $32 million so that they can incentivize the migration.
Stay tuned to us to grab more updates on the same.