Photo Courtesy of KRQE
Netflix is in final negotiations to purchase it’s first US studio making Albuquerque home to the streaming giant.
Mayor Keller compared the Netflix/Albuquerque partnership to Intel’s move to Rio Rancho in 1980 – calling this a true game changer for our community. Keller directed the spotlight to ABQ Film Liason, Alicia Keyes, for pulling the deal together.
The State will provide up to $10M in LEDA funding and the City will provide up to $4.5M in local LEDA funding as a financial incentive. Netflix is already shooting two of their original series here (“Chambers” and “Messiah“) which will be produced at the new facility along with “Daybreak“. These current productions are providing over 700 jobs, however, with moving here they will be investing $1B during the next 10 years and creating an estimated 1,000 jobs per year making this an economic win for New Mexico.
Netflix Vice President Ty Warren stated “We’re producing a lot of content…and so this is a great opportunity for us to have a hub at which we can produce more and more of our content.”
As Netflix is finalizing negotiations with the city there is no final word on when they will be moving. Other productions filming at ABQ Studios will move out after their leases are finished leaving the facility solely to Netflix.
Sources:
- Davis, Ron. “Behind the deal for Netflix to invest $1B in New Mexico“. Albuquerque Business First. 8 Oct. 2018. Web 9 Oct. 2018.
- Disis, Jill. “Netflix is buying it’s first production studio – in Albuquerque.” CNN Business. 8 Oct. 2018. Web 9 Oct. 2018.
- Knapp, Rachel & Lucero, Marissa. “Netflix to buy Albuquerque Studios.” KRQE. 8 Oct. 2018. Web 9 Oct. 2018.
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