Industry Experts and State Leadership Analyze Impact of New Mexico Film Industry Tax Legislation

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Coronado Ventures Forum, a New Mexico non-profit organization that educates investors and entrepreneurs on the process of early-stage private equity funding, will host a panel discussion on the current state of the film incentive program in New Mexico. The panel will include NM Film Office Director Nick Maniatis, Santa Fe Studios President Jason Hool, State Representative Brian Egolf, and others. The Panel will be moderated by Eric Witt, former head of the Motion Picture Association of New Mexico and Deputy Chief of Staff to Governor Bill Richardson.

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New Mexico is open for film business. Our workforce is still the largest in the USA outside of LA and New York, and we have world-class stages in Santa Fe and Albuquerque. --Jason Hool, President, Santa Fe Studios

Coronado Ventures Forum will host an expert roundtable discussion event on the state of the New Mexico film industry. The state’s tax credit for the industry was kept alive in the most recent legislative session, but with a $50 million annual “collar” and tiered payment plan: films earning credits between $0-2 million will be paid immediately, credits between $2-5 million are paid in 2 installments over two years, and credits above $5 million are paid in three installments. The forum will address how the tiered payments work in tandem with the $50 million collar as well as the following issues:

  •     State of the industry: what a $50 million dollar collar means, and the mechanics of the tiered payment plans
  •     Industry insiders share individual perspectives and debate the merits of NM’s movie production incentives program, benefits, and activities;
  •     How the film industry and NM’s economy will be affected by the collar, including the state’s ability to compete with other states.

The Panel will be moderated by Eric Witt, former head of the Motion Picture Association of New Mexico and Deputy Chief of Staff to Governor Bill Richardson. Guest experts will engage in a conversation on the topic followed by an interactive discussion period with local NM leaders and innovators in film as well as a Q & A. The panel includes:

  •     Brian Egolf, State Representative, District 47
  •     Alton Walpole, CEO, Mountainair Films
  •     Nick Maniatis, Director of NM Film Office
  •     Jason Hool, President, Santa Fe Studios
  •     Thomas Clifford, Policy and Research Director, NM Taxation and Revenue Dept.

“We look forward to discussing the reality of the industry’s future based on the current economy and recent changes to the film program in NM,” said David Franklin, President of CVF. “We invite those in the industry and those serving the industry to join this discussion.”

Jason Hool, President of Santa Fe Studios added "New Mexico is open for business. We're still at the top of the global heap in the film & media industry. Our infrastructure is best-of-breed, our workforce is still the largest in the USA outside of LA and New York, and we have world-class stages in Santa Fe and Albuquerque."

Date: Thursday, July 21, 2011
Time: 5:30 pm-6:30 pm Cocktails & Buffet Dinner
         6:30 pm-8:00 pm Panel Discussion
Venue: The Inn at Loretto
         211 Old Santa Fe Trail
         Santa Fe, NM 87501
Cost: $22.50 in advance (credit card payments); $25 at the door (cash and check only). Registration is available online at http://www.cvf-nm.org

Coronado Ventures Forum is a New Mexico non-profit organization that educates investors and entrepreneurs on the process of early-stage, private equity funding, and to provide a gathering point for these two communities to come together. For more information on CVF, please visit http://www.cvf-nm.org.

For media inquiries or information regarding this event, please contact

Francine Sommer, Board Member, Program Chair for Coronado Ventures Forum
fsommer(@)villageventures(.)com
917-902-0250

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