Netflix Chooses Albuquerque For Production Studio Hub

4 hours ago

A $4.5 million incentive package offered to Netflix for locating its new U.S. production hub in New Mexico has cleared its first hurdle.

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The Albuquerque Development Commission voted unanimously Thursday to recommend that the City Council approve the deal. A vote could come next week.

Netflix announced this week that it chose Albuquerque and was negotiating to purchase a sprawling studio complex on the city's southern edge that includes sound stages, offices and a back lot where it will produce original series and films.

It will mark the company's first purchase of such a property. Work there and elsewhere around the state is expected to result in $1 billion in spending over the next decade.

Incentives also include an additional $10 million in economic development funding from the state.