The investment, per a release from the streaming giant, will create about 1,000 production jobs in New Mexico over the next decade as well as 1,467 construction jobs to complete the expansion.
Calling Netflix an “incredible partner,” New Mexico Governor Michelle Lujan Grisham praised the streamer in a statement for “pushing the boundaries of innovation and expansion while providing fulfilling work opportunities for so many New Mexicans.”
“My administration has expanded our state’s competitive film incentives, facilitating higher-wage employment for New Mexicans all across the state, and increased opportunities for rural communities,” she said. “I am glad Netflix has chosen to double-down on its commitment to our state, and our partnership will continue to grow for the benefit of New Mexicans across the board.”
The proposed expansion includes the building of 10 new stages, post-production services, production offices, mills, backlots, and training facilities, wardrobe suites, a commissary to support meals and craft services, and other flex buildings to support productions, said the company.
Netflix, part of the proposed investment, is also committing to partner with the New Mexico Film Office, local universities and labor and industry groups to offer training programs for below-the-line roles in a bid to increase the crew and talent pool in the state.
The Mesa de Sol TIDD Board and Albuquerque Development Commssion will be reviewing the project in the coming weeks.
Currently, Netflix has feature films “The Harder They Fall” and “Intrusion” in production in New Mexico, and will soon start shooting “Stranger Things” Season 4 in Albuquerque.
Netflix co-CEO Ted Sarandos said that New Mexico offers an “outstanding production and business environment.”
“The expansion will bring many new high-tech and production jobs to the region,’ he said in a statement. “It allows us to be more nimble in executing our production plans while cementing the status of the region as one of the leading production centers in North America.
The State of New Mexico plans to provide up to $17 million in State LEDA funding, while the City of Albuquerque is committing up to $7 million in local LEDA funds and issuing an Industrial Revenue Bond to partially abate property and other taxes over a 20-year period for the first $500 million Netflix spends on the facility expansion.
“When we brought Netflix to Albuquerque, we put the spotlight on our city’s strong film economy and joined our brand to the one of the top companies in the new global economy,” said Albuquerque mayor Tim Keller. “Now, with this expansion we’re looking forward to doubling the impact to 2,000 jobs for folks from all walks of life and a $2 billion investment into Albuquerque’s economy over the next decade. Between Netflix and the likely Orion Project, the Duke City is looking at the very real possibility of a transformative ‘new economy,’ redefining our workforce with aerospace and film jobs.”