NEW MEXICO – New Mexico Governor Michelle Lujan Grisham and executives from Cinelease, Inc. and Cinelease Studios announced a major expansion of the entertainment services company in Albuquerque.
Cinelease will invest US$95 million in New Mexico, adding five sound stages and two auxiliary buildings to its existing Albuquerque facility.
The expansion is expected to create hundreds of construction and film jobs and generate a direct economic impact of US$227 million over the next decade.
“Cinelease is another great company that recognizes that New Mexico’s strong workforce and competitive business climate make our state the place to be. This partnership will bring hundreds of productions to the state, supporting construction and film jobs while boosting economic activity to help New Mexico communities and families,” the governor said.
Cinelease’s expansion will help New Mexico meet the growing demand for film production space. The company has also committed to spend at least US$80 million a year on production within New Mexico facilities, which will help create thousands of quality jobs in the film industry.
“As Cinelease expands in Albuquerque, the message is clear: New Mexico is the destination for the film industry. This collaboration underscores our commitment to fostering a vibrant film community and creating more economic opportunities for our families,” commented Albuquerque Mayor Tim Keller.
The State of New Mexico has committed US$6.7 million from EDD’s LEDA job creation fund to support the expansion. The City of Albuquerque has pledged an additional US$1 million of its municipal LEDA funding, as well as support with the issuance of Industrial Revenue Bonds.
Cinelease has demonstrated a commitment to volunteer work in the communities it serves. The company plans to work with the New Mexico Media Arts Collective to assist with student workforce training and donate equipment. It will also continue its work with local non-profit organizations that support local filmmakers.
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