Netflix Has Big Plans for Massive New Mexico Complex

Netflix has chosen New Mexico as the site of a new US 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, the AP reports. 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." Officials did not release details about the sales price of the studio complex in New Mexico. The property, where major movies including The Avengers were shot, includes several sound stages, production offices, mill space, and a back lot.

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