New Mexico Proposes $150M Film Loan Fund
The New Mexico Film Office is seeking a one-time state appropriation to support film productions amid a downturn in local activity.
Updated on Nov. 15, 2026 in Animation
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The New Mexico Film Office wants to request a one-time $150 million appropriation to establish a film loan fund. The New Mexico Finance Authority is drafting the legislation for the upcoming legislative session.
Why it matters
The proposal comes after a 2023 Writers Guild of America strike and increased international competition, which followed a 28% drop in film projects in fiscal year 2026. Film production spending in New Mexico has fallen sharply, and the fund is intended to help the state's film industry recover.
Film production in New Mexico fell from 112 projects and $855 million in spending in fiscal year 2022 to 80 projects and $327 million in fiscal year 2026. The proposed loan cap of $7.5 million or 60% of a production's budget, whichever is lower, has not yet been finalized by the Finance Authority.
The players
New Mexico Film Office
The state agency responsible for promoting and supporting film and television production in New Mexico, and the body requesting the appropriation.
New Mexico Finance Authority
The state's public finance agency, which is drafting the legislation to create the film loan fund and would manage and administer it.
The details
The fund would be managed by the New Mexico Finance Authority, which would contract an industry expert to vet applicants. Loans would carry low interest rates set by the Authority, and the Authority would require a guarantee at its discretion, with productions possibly using state tax credits as collateral.
Timeline
Fiscal year 2022: 112 film projects were filmed in New Mexico, spending $855 million.
2023: A Writers Guild of America strike affected the local film industry.
Fiscal year 2026: Film projects fell 28% to 80, spending $327 million.
October 2026: The Film Office presented the proposal to the NMFA Oversight Committee.
Next year's 60-day legislative session: The proposal is expected to advance in the legislature.
Season Trajectory
The proposal follows the 2023 Writers Guild of America strike, which disrupted film production nationwide and contributed to New Mexico's decline from 112 projects in fiscal year 2022 to 80 in fiscal year 2026. A state-backed loan fund would be a new tool to compete with other states offering production incentives.
If approved, the loan fund could affect how many film and animation productions are filmed in New Mexico, which may influence the availability of local projects for audiences. Loans capped at $7.5 million or 60% of a production's budget would apply to qualifying productions.
The takeaway
The proposed fund signals that New Mexico is seeking a direct state role in keeping film production local after a sharp drop in activity. Whether the $150 million appropriation advances will determine how the state competes for productions in the coming years.
What happens next
The proposal is expected to advance during next year's 60-day legislative session, where lawmakers will consider the $150 million appropriation.
Further reading
For more on the industry behind the proposal, explore Animation coverage on Wisevoter.
Source note: This article includes information reported by Abqjournal.
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