Mexico hails big rise in U.S. film production on its soil

Mexico’s Film Commission is expecting that about 40 U.S. films will shoot in the country this year, up from just six five years ago, the London Financial Times reported Thursday. Among the productions are, Frida, starring Salma Hayek, Once Upon a Time in Mexico, starring Antonio Banderas, Vampires: Los Muertos, starring Jon Bon Jovi and a Tom Cruise production of Stephen King‘s Dolan’s Cadillac. The boost in production is being credited to favorable tax laws, reduced red tape, revamped union rules, and favorable exchange rates — all of which can cut production costs between 25 percent and 30 percent, the FT observed.