Overview
- State and federal officials, speaking at the Encuentro Cinematográfico de Morelos on Thursday, confirmed reforms published in the state gazette and the creation of a permanent film fund seeded with 80 million pesos.
- The fund draws its seed money from Fidecomp, a public competitiveness trust fed by a 3% levy on employer payrolls, and the law now requires Fidecomp to transfer at least 10% of its resources to the film fund each year.
- The program uses an open-window cash rebate that pays back 30% for direct audiovisual services and 20% for logistics, and projects must prove local spend with Morelos-based vendors to qualify under rules the technical committee will finalize.
- Mexico’s new federal incentive offers an income tax (ISR) credit of up to 30% on domestic spending if at least 70% of the supply chain is Mexican, and Economy Secretary Marcelo Ebrard said Morelos is the first state to align with the policy.
- Private backers announced a $5 million conversion of the Cuernavaca convention center into Estudios Morelos with construction starting in 2027 and a separate studio complex near $30 million, while officials project up to 2,500 jobs this year even as operating guidelines and build-outs are still being set.