Netflix to bring new US production center to New Mexico

Netflix has chosen New Mexico as the site of a new US production center and is in final negotiations to purchase a multi-million dollar studio complex on the edge of the state's largest city. Monday announced government leaders and businesses.

This is the first purchase of this property by the company. Production in Albuquerque and elsewhere in New Mexico is expected to generate $ 1 billion over the next decade.

More than $ 14 million in funding for state and local economic development is mobilized to bring Netflix to New Mexico. Republican Governor Susana Martinez and Timbuk Mayor Tim Keller, a Democrat, touted the investment and said that long efforts to put New Mexico on the film map are bearing fruit.

"It's great," the governor told dozens of people gathered in a cavernous sound stage at ABQ Studios. "This massive investment will obviously have a huge impact on New Mexico and will continue our efforts to develop and diversify the economy."

Martinez acknowledged the state's dependence on federal funding and the development of the oil and gas sector, stressing that much remained to be done to encourage various companies such as Netflix, with the private sector being the mainstay of the US economy.

Keller said the city had laid the foundation for the film industry to be part of its economic development plan. He called the Netflix landing a "transformational victory" for the city.

Netflix projects produced in New Mexico include Emmy-winning "Godless" and "Longmire" limited series. Company officials said their work experience in the country has prompted them to seize the opportunity to create a new production center in Albuquerque.

Earlier this year, Netflix announced the establishment of its first European production center in Spain. This operation should help the online video entertainment platform to expand its Spanish content.

The company also has a production center in Los Angeles and it is possible that the company's footprint will continue to grow given the amount of content that the online entertainment service provider wants to create.

"We will look at each location based on its merits – the same kind of decision-making that presided over the imminent purchase of this studio," said Ty Warren, vice president of physical production for Netflix. "The combination of great teams, existing infrastructure, financial incentives, everything was part of it."

Netflix has around 130 million subscribers worldwide.

Officials did not reveal details of the sale price of the New Mexico studio complex. The property includes several sound stages, production offices, a factory and a background.

Martinez, whose second and last term ends this year, first talked about trying to limit the incentive program to New Mexico cinema and an annual cap of $ 50 million a year. been introduced.

While the state was preparing to come out of the recession, she said it was important to avoid any cuts to essential programs such as education, health care and infrastructure public. It has been criticized by many people who thought that the cap would curb the growth of the film industry.

In 2013, she signed the "Breaking Bad" bill, which takes her name from the award winning Emmy drama, shot primarily in Albuquerque during her five seasons. Legislation strengthened incentives for television productions.

Martinez said the industry had recorded three consecutive records in New Mexico and was on the verge of becoming a monumental new year.

The industry has attracted more direct spending within the states from film and television productions every year since 2014, reaching $ 505 million the previous fiscal year, according to the state film bureau. .