Jalisco raises 3 million pesos for Foundation
MEXICO CITY — The Mexican state of Jalisco, home to the Guadalajara Film Festival, will be one of the first in the nation to fund film production via a local subsidy.The state’s culture secretary, Alejandro Cravioto Lebrija, and the Jalisco Cinematographic Academy (AJC) announced Wednesday that they have raised 3 million pesos ($293,000) for the Foundation, designed to boost the local industry and decentralize production in Mexico. “With the creation of the Foundation, investors will be able to give funding to film production in Jalisco with far more confidence,” said Lebrija. The backers noted that the program is only the second state financing scheme, following Nuevo Leon’s. Similar programs in Puebla and Aguascalientes are said to be in the works. The AJC and state government announced plans to create the Foundation in January, but it took until now to come up with the coin, culled from private and public sources. They can now approach national film unit Imcine as well as other national film backers to develop the Foundation. “The Foundation is our most-sought-for goal, and we hope that we will be announcing competition for the funding by the end of the year,” said AJC prexy Raul Ramon.
Want Entertainment News First? Sign up for Variety Alerts and Newsletters!