VIDEO GAME AND DIGITAL MEDIA PRODUCTION
Wednesday, March 27, 2019
Since 2002, New Mexico has offered a rebate through the Refundable Film Production Tax Credit to companies who produce movies in New Mexico; and this incentive also applies to the production of all forms of digital media. This means video game companies qualify for the same incentive that film companies get; a 25% rebate of most expenses incurred in New Mexico, including compensation costs. When paired with New Mexico’s lower cost of compensation, this provides companies with a near 50% total savings when compared with places that typically attract companies in the digital media industries like Seattle or San Francisco.
New Mexico not only provides a cost-effective business environment, we also provide the talent video game and digital media companies need. New Mexico is home to a vibrant and diverse technology community with strong pools of both experienced and entry-level talent. Our tech ecosystem is composed of a diverse range of companies; everything from small, innovative start-ups to large-scale enterprise technology operations. We also have cutting-edge R&D and scientific institutions, providing companies with a pipeline of experienced talent throughout the state.
Ganymede Games has selected Las Cruces, New Mexico, as its new headquarters. The new game studio comprised of industry veterans plans to hire 51 employees over the next 5 years and invest over $1.3M in building and infrastructure improvements. To read more about Ganymede Games, click here.
The state is home to three major research universities, four comprehensive four-year institutions, seven independent community colleges, three cooperative education sites and many specialized learning facilities, totaling 50 locations statewide. Among these institutions are a host of strong computer science programs as well as programs specifically focused on game design and development to provide companies with the entry-level talent they need.