New Mexico film spending plunges after 2023 strikes, but mid-budget projects rise

New Mexico, long a hub for shows like Breaking Bad and recent hits such as Stranger Things, experienced a steep decline in production spending after the 2023 strikes, falling from $874 million at its 2022 high to $327 million the following year. Steve Graham, who heads the New Mexico Film Office, notes that while large-scale scripted series have been cut back, studios are now focusing on mid-budget features and independent television, typically ranging from $10 million to $20 million.

He points to the state’s competitive tax credit—credited by 92 % of shoots—as a major factor keeping projects local, along with streamlined permits and low logistical costs. Netflix has recently completed two series in the state and continues scouting for additional titles, while other studios are also evaluating future projects. Graham acknowledges a lingering shortage of skilled crew but highlights existing training programs and the experienced workforce built over two decades. The film office also reports a record level of spending outside the main hubs of Albuquerque and Santa Fe, reflecting broader geographic diversification.