Playas de Rosarito, Baja California (3/10/2010) -- In order to turn Mexico into the Latin American cinema capital, President Felipe Calderón implemented the Program to Support High-Impact Cinematographic and Audiovisual Industry, designed to attract large movie productions to the country once more.
"Federal Government has proposed to take the necessary measures to give a fresh impetus to the high-range audiovisual and cinematographic industry in Mexico through programs it is supporting in this marvelous renaissance of Mexican cinema, this second Golden Age it has experienced during the first decade of the 21st century," he declared.
In Baja Studios, in Playas de Rosarito, accompanied by state governor Guadalupe Osuna, the President added that this program attempts to put Mexico back on the map of the international film industry, since the cinema is not only regarded as an art, but as an industry that creates jobs and money for the country.
The President explained that the actions that will be undertaken to support the industry and major productions include the budgetary program comprising 20 to 40 million dollars, which will provide direct profits of $260 million USD.
Moreover, major movie productions will be given financial incentives through a 7.5% cash reimbursement for proven local expenses that firms incur in Mexico, which will boost tax collection and reduce tax evasion.
He added that in addition to this 7.5% reimbursement, international investments will have an incentive of up to 17.5% in reimbursement of expenses.
“We want to attract productions involving at least 70 million pesos in production expenses in Mexico or 20 million pesos in post production in the country," he added.
President Calderón declared that last year, the programs designed for the movie industry, such as FOPROCINE, FIDECINE and EFICINE, together with the one beginning today, accounted for nearly 80 million dollars last year, in other words, nearly a billion pesos.
“We will not only be attracting investment and creating new jobs but also contribute to Mexico's competitive integration into an international network of creativity and talent,” he explained.
The President invited both producers, directors, actors and businessmen linked to this industry to use the advantages and opportunities offered by Mexico to promote their artistic projects.
“I am sure that the age-old magic, culture, imagination, history and talent of our country will provide the ideal framework for producing successful, unforgettable films and at the same time, provide work and a decent income for Mexico’s young creative talents, and give work to the actors and movie workers in our country,” he said.
Lastly, President Calderón repeated that investment is crucial to the country's economic growth which is why programs such as this attempt to strengthen key economic features of cinema produced in Mexico.
“The point is to promote cinema as an investment and to make Mexican cinema an activity that can attract capital and investments to Mexico and create jobs in our country," he said.
Francisco S. del Cueto
Trade and Investment
Consulate General of Mexico in Los Angeles
2401 West 6th St. 5th Floor
Los Angeles, CA 90057
t. (213) 382-3179 ext. 227
f. (213) 382-7203
c. (281) 660-8766