New Movie Studio Coming To Rio Rancho

ALBUQUERQUE, N.M. -- Rio Rancho is on its way to being the next destination for a major movie studio after the city council voted Wednesday to help Masque Entertainment get the financing they need.

The new owners said the success of Albuquerque studios is helping to prove movie making in New Mexico is a growing business and a new studio is needed. They said their studio will do even more than the older ones.

"It's designed to cater to the independent film maker throughout the world, and they will come," said Steve Perry, with Masque Entertainment.

Perry spent the past 20 years making movies like "Rocky," "Ordinary People" and "Lethal Weapon." He founded the company Masque Entertainment and he said he wants to build a green movie studio on 35 acres in Rio Rancho.

"We chose Rio Rancho because of its locale, it's convenient to everywhere," Perry said.

The city council agreed to help the company get $150 million worth of bonds to help finance the project.

In return, city leaders said they'll get a state of the art facility including a post-production facility -- the first of its kind in New Mexico.

"They're not asking for additional tax breaks. They're not asking for tax payers. They're not asking for free land which we hear from people periodically," Rio Rancho Mayor Tom Swisstack said.

"Basically, all we're doing is giving up property taxes and when you stop to think we're not collecting any property taxes on that now. We're really not giving up anything," said Kathleen Colley, with the Rio Rancho City Council.

But the city feels they're gaining the industry the city needs with a man who has a proven track record.

"I've had a very good string of successful films. I didn't do them by myself," Perry said.

Perry said he's teaming up with Rio Rancho for what he hopes will be a string of success.

If everything goes as planned, construction will begin in late September, and the new studio will open early next summer.

Perry said the studio will create 500 jobs the first year, paying between $17 to $30 an hour. He also said he's already invested in this area by hiring architects, lawyers and accountants.

Another film company, Lionsgate, said they still plans to put a studio in Rio Rancho. City leaders said they still have until November to start construction.