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(I know this is an old thread, but I think it's one of the better generic ones on the subject of Albuquerque's economy.)
Last night my wife mentioned the Netflix move to New Mexico or Albuquerque...
Netflix to bring new US production hub to New Mexico
Originally published October 8, 2018 at 12:18 pm Updated October 9, 2018 at 5:12 am
Quote:
By SUSAN MONTOYA BRYAN
The Associated Press
ALBUQUERQUE, N.M. (AP) — Netflix has chosen New Mexico as the site of a new U.S. production hub and is in final negotiations to buy an existing multimillion-dollar studio complex on the edge of the state’s largest city, government and corporate leaders announced Monday.
It’s the company’s first purchase of such a property, and upcoming production work in Albuquerque and at other spots around New Mexico is forecast to result in $1 billion in spending over the next decade.
More than $14 million in state and local economic development funding is being tapped to bring Netflix to New Mexico. Republican Gov. Susana Martinez and Albuquerque Mayor Tim Keller, a Democrat, touted the investment and said lengthy efforts to put New Mexico on the movie-making map are paying off.
“This is awesome,” the governor told dozens of people gathered inside a cavernous sound stage at ABQ Studios. “This massive investment will have a huge impact of course on New Mexico and continue our efforts to grow and diversify the economy.”
This might be a game changer for ABQ and NM if it comes off as planned. Adding 1000 jobs a year makes sense. We dodged the bullet on the Amazon thing -- 50k fresh faces and all their families and stuff would have been a disaster here (as if we were seriously considered). We can handle slower and reasoned growth. Downtown will have to absorb the 1000 job growth that was already announced before this happened.
It sounds good, but will we be able to keep them here? ABQ Studios filed bankruptcy in 2010 and I think came out of it much diminished, the film industry took a hit here when the Martinez administration came in and curtailed a lot of the incentives. The local economy suffered as a result. Now the governor is taking credit for the Netflix purchase, when she was responsible for chasing much of the film industry out of New Mexico before. Or am I wrong? Someone explain.
It sounds good, but will we be able to keep them here? ABQ Studios filed bankruptcy in 2010 and I think came out of it much diminished, the film industry took a hit here when the Martinez administration came in and curtailed a lot of the incentives. The local economy suffered as a result. Now the governor is taking credit for the Netflix purchase, when she was responsible for chasing much of the film industry out of New Mexico before. Or am I wrong? Someone explain.
You seem to be more interested in bashing the Governor...
The industry has drawn more in-state direct spending from film and TV productions each year since 2014, topping out at $505 million last fiscal year, according to the state film office.
Last edited by Poncho_NM; 10-11-2018 at 03:38 PM..
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