Monday, October 8, 2018

Netflix Expands In New Mexico

Netflix, which has major operations in Los Angeles, is expanding its production efforts, by expanding in Albuquerque, New Mexico. The provider of movie and TV streaming said on Monday that it will 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. 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.