Netflix to invest US$2 billion in New Mexico

Category: News
Published: 2024-07-03
Netflix to invest US$2 billion in New Mexico

NEW MEXICO – New Mexico Governor Michelle Lujan Grisham and Netflix co-CEO Ted Sarandos announced the expansion of the company’s studios in Albuquerque, further cementing the state’s role as a leader in film and television production.

The expansion includes four new sound studios, three mills, a production office and two scenic support buildings.

“We are proud to see Netflix deepening its roots in New Mexico, creating thousands of jobs and boosting our local economy. New Mexico’s talented film industry workforce, diverse landscapes and vibrant communities provide the perfect backdrop for Netflix’s innovative productions,” said the governor.

Netflix’s $2 billion commitment is expected to create thousands of jobs and generate significant economic benefits. The expanded studio, located on 108 acres, will feature sustainability initiatives such as solar power, geothermal heating and electric vehicle chargers to reduce its carbon footprint.

“Our experience in New Mexico has been exceptional,” stated Ted Sarandos, co-CEO of Netflix. “We appreciate the strong partnership with the state and local governments, the rich tapestry of landscapes, and the talented pool of creative talent and crew who bring a unique energy to our productions. We are excited to expand our footprint and bring more opportunities to New Mexico.”

Since the 2019 partnership with New Mexico, Netflix has produced 12 film and television projects in the state, directly spending more than $640 million and employing more than 4,000 residents.

The state’s film and television industry has grown significantly over the past two decades, with direct spending increasing 51% to more than $794 million since 2019.

Netflix productions have showcased numerous New Mexico locations, contributing to the state’s reputation as a premier filming destination. Notable productions include “Trigger Warning,” “American Primeval” and “Pulse.”

“Netflix’s expansion and continued partnership with New Mexico is a cornerstone of our vision to become a globally revered, innovative and sustainable media ecosystem that benefits our communities and residents across the state,” said New Mexico Film Office Director Amber Dodson.