Mexico hopes to lure filmmakers with subsidies

President Felipe Calderon strives to make Mexico "Latin America's movie capital"

Published March 11, 2010 12:49AM (EST)

Mexico has implemented a new program subsidizing filmmakers in a bid to attract more cinema business to the country.

President Felipe Calderon says the government will reimburse producers 7.5 percent of their expenses if they spend more than $5.5 million during filming or $1.6 million in post-production.

He says he wants Mexico to become "Latin America's movie capital" and compete with countries like Australia, Ireland, Canada and South Africa.

Calderon announced the program Wednesday at film studios in Rosarito, Baja California.

The beach town 20 miles (30 kilometers) south of San Diego has been the shooting location for movies such as "Titanic" and "Pearl Harbor."

By Associated Press

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Latin America Mexico Movies