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ALBUQUERQUE, NM (AP) – Netflix plans to create one of North America’s largest production hubs with an expansion of its existing studio complex in New Mexico and a commitment of an additional $ 1 billion in spending from production, government and business leaders said Monday.
Ten new stages, post-production departments, offices, factories, backlots and other infrastructure would be added to Netflix’s growing campus on the southern edge of Albuquerque. In addition to construction jobs, the project is expected to create 1,000 production jobs over the next decade.
Netflix first marked its presence in New Mexico in 2018, when it announced it was buying Albuquerque Studios and pledged to spend $ 1 billion over a decade. At the time, government officials viewed the move as a transformative victory for a state struggling to reduce its dependence on federal funding and oil and gas development.
The entrance to ABQ Studios in Albuquerque, NM, where Netflix announced to the studio complex that it had chosen Albuquerque as its new production center. AP Photo / Susan Montoya Bryan, file)
“I am pleased that Netflix has chosen to double its commitment to our state, and our partnership will continue to grow for the benefit of New Mexicans at all levels,” Governor Michelle Lujan Grisham said in a statement.
Netflix co-CEO Ted Sarandos highlighted the proximity to Los Angeles, crew and local talent as reasons for the continued investment.
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“This allows us to be more agile in the execution of our production plans while consolidating the region’s status as one of the leading production centers in North America,” he said.
A total of $ 24 million in state and local economic development funding will be funneled into the expansion, and industrial income bonds will be issued by the City of Albuquerque to help reduce some taxes for Netflix.
The production center’s footprint will increase with the purchase of private land and a lease involving state trust lands.
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The Albuquerque Development Commission approved the proposal on Monday. The city council has yet to give its approval.
Over the past 20 years, the film and television industry has grown into an economic force in New Mexico, with direct spending exceeding $ 525 million in the past fiscal year.
The logos of streaming services Amazon Prime Video, Netflix, Amazon Music and YouTube as seen on a TV. (Photo by Thomas Trutschel / Photothek via Getty Images)
“All of this is outside money going into the state that wouldn’t be here otherwise,” Secretary of State for Economic Development Alicia J. Keyes told the committee at a meeting.
She said the partnership with Netflix should send a signal that New Mexico is the perfect location for film and television production. Companies have emerged in the state to support the industry, she said, and data from the National Cinema Bureau suggests 40% of production budgets are allocated to small local suppliers.
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“So it’s really spreading through our economy,” she said.
As part of the proposed investment, Netflix has committed to providing training programs in partnership with the New Mexico Film Office, local universities and industry organizations. Netflix is also committed to supporting creators and directors of Native American, Latin, Black, and other under-represented content.
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Since arriving in New Mexico in 2018, Netflix has said it has spent more than $ 200 million, used more than 2,000 production vendors, and hired more than 1,600 cast and crew.
Netflix is in production in New Mexico on the original films “The Harder They Fall” and “Intrusion” and is expected to begin filming “Stranger Things 4” in Albuquerque soon.
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