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Santa Fe Studios Sale Completed 

Santa Fe – February 18, 2010 – The New Mexico State Board of Finance gave the go ahead to Santa Fe County to complete the sale of its economic development property on NM 14 to Santa Fe Film and Media Studios. The property has since been sold to Santa Fe Studios. It is now official, the film and media production facility can be constructed. Construction is anticipated in April.

County Commission Chair Harry Montoya said, of the events: "The County Commission has every reason to believe that this project will be very successful; the culmination of over five years of effort to bring clean, high paying jobs to Santa Fe. We believe this project will make a substantial contribution towards making our community a better place to live, work and raise our children."

County Commissioner Liz Stefanics said: "We are excited about giving the media industry a permanent home in Santa Fe. It is a particularly desirable industry to attract, because it fits well with our citizens, who are educated, motivated and creative. We are especially excited about the partnerships that are now possible with our local arts and entertainment organizations, with Santa Fe Community College and the College of Santa Fe."

Commissioner Kathy Holian said, "This is a natural fit for our community. An industry that provides green, clean jobs that rely heavily on the talent, education and creativity of our local work force. Plus, a state of the art facility that will set new standards for sustainability. We have a unique opportunity to create a sustainable work force around the film and media industry."

In March 2008, as assessment of the studios project was conducted by Southwest Planning & Marketing (SWPM) to examine the benefits of the project. That assessment was updated on February 10, 2009 by SWPM with the same determination, the report concluded the project is currently just as feasible as when the initial assessment was conducted. The annual payroll for the Santa Fe Studios employees is estimated at $704,969. The total one-time revenues to the County are projected to be over $4.9 Million with annual benefits of $1 Million.