Monday, October 8, 2018

Netflix To Open Massive Production Hub In ABQ

In a big win for Albuquerque--and its growing movie and TV production industry--online streaming movie and video provider Netflix said on Monday that it has chosen to create a new, U.S. production hub in Albuquerque. Netflix said that it is in "final negotiations" to purchase ABQ Studios in Mesa Del Sol, which it says will bring $1 billion in production to New Mexico over the next 10 years, and create up to 1,000 production jobs a year. Netflix said the acquisition will be its first purchase of a production studio complex, where it plans to produce both film and television series. Netflix said it was attracted in part to place the facility in Albuquerque due to funding from the Local Economic Development Act (LEDA), where the State of New Mexico will provide up to $10M in funding, and the City of Albuquerque will provide up to $4.5M towards the Netflix project.