New Mexico, American Movie Capital?

“A growing number of states offer tax credits as a way to lure Hollywood dollars. But New Mexico actually is investing in movies – the state has established a fund of $85 million for the purpose. The money comes in the form of no-interest loans, repayable in two to five years. The state will invest as much as $7.5 million in any movie that passes muster with the New Mexico State Investment Council, as long as filmmakers agree to spend most of their shooting schedule in the state and hire a crew made up of at least 60 percent New Mexico residents. On top of that, New Mexico offers any film, whether financed by the state or not, a 15 percent tax rebate for every dollar spent locally.”