- Associated Press - Thursday, October 18, 2018

ALBUQUERQUE, N.M. (AP) - The Albuquerque City Council has unanimously approved a $4.5 million city economic incentive package for the California-based streaming-video provider Netflix to purchase and operate Albuquerque Studios.

The Albuquerque Journal reports the council on Thursday also approved the city’s role as fiscal agent for New Mexico’s $10 million contribution in Local Economic Development Act funds.

As part of the agreement, Netflix commits to direct spending on its own productions in the state of at least $600 million in the first five years occupying the studio.

Netflix also commits $400 million in direct and indirect spending in the following five years, which includes leasing the facility to other production companies.

Netflix projects produced in New Mexico include the Emmy Award-winning limited series “Godless” and “Longmire.”

___

Information from: Albuquerque Journal, http://www.abqjournal.com


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide