FOR IMMEDIATE RELEASE
June 21, 2021
Angie Poss, SLO Assistant Commissioner of Communications
Ava Montoya, CABQ Public Information Officer
Netflix Expansion Approved
Commissioner Stephanie Garcia Richard and Mayor Tim Keller welcome strong growth of film economy and new local jobs
SANTA FE, NM – The New Mexico State Land Office (SLO) recently finalized a sublease agreement between Netflix and the City of Albuquerque (CABQ) for the company’s planned expansion, which includes approximately 130 acres of state trust land and 170 acres of private land at Mesa del Sol. Today the Albuquerque City Council approved both the sublease and the master economic development lease at their bi-monthly meeting.
In November 2020, the SLO and CABQ entered into an economic development agreement for the land, with the intention that the City would then sublease the land to Netflix.
“Netflix is a giant television and film streaming and production service, and we welcome their belief and investment in New Mexico,” said Commissioner of Public Lands Stephanie Garcia Richard. “Today’s vote further solidifies the partnership between the City, the State, and Netflix, and will create thousands of jobs for New Mexicans working in the industry, along with new revenue streams to help us diversify our state and breathe life into the post-pandemic economy.”
“As we continue bolster our partnership with Netflix, we are sending a clear signal to the world that Albuquerque is the ideal place for the new film and television economy,” said Albuquerque Mayor Tim Keller. “From film to aerospace, the Duke City is making its mark in the new global economy, and we welcome this opportunity to create thousands of jobs and attract more film-economy based companies and creative artists with this expansion.”
As part of the proposed expansion and Netflix’s commitment to job creation associated with an additional $1 billion in production and $150 million in capital expenditures, the company will add up to ten new stages, post-production services, production offices, mills, backlots, and training facilities, wardrobe suites, a commissary to support meals and craft services, and other flex buildings to support productions.
City of Albuquerque Economic Development Director Synthia Jaramillo said, “Our department has worked closely with Netflix, Land Commissioner Garcia Richard, and partners from various State agencies. It is exciting to see these final steps in the process being completed allowing this exciting project to move forward as planned. This relationship we have fostered with Netflix has further cemented our position as a premier film industry location in the country.”
In 2018, Netflix, along with State of New Mexico and City of Albuquerque officials, announced the purchase of Albuquerque Studios, the first production hub purchased by Netflix in the United States. Since 2018, Netflix has spent more than $200 million in the state, utilized more than 2,000 production vendors, and hired over 1,600 cast and crew members.
Upon completion, Netflix’s Albuquerque location will be one of the largest high-tech and sustainable film production facilities in North America. The investment will result in the creation of an estimated 1,000 production jobs in New Mexico over the next ten years. An additional 1,467 construction jobs will be also created to complete the expansion.
The SLO exists to manage and steward over 9 million surface acres and 13 million mineral acres to raise revenue for New Mexico public schools, hospitals, and universities. Each acre of state trust land has an assigned beneficiary – meaning when revenue is raised on that land, it goes directly to the assigned beneficiary or public institution. The 300 acres that will be sub-leased to Netflix will financially benefit the University of New Mexico to the tune of over $24 million over the 40 year lease.
Under the leadership of Commissioner of Public Lands Stephanie Garcia Richard, the New Mexico State Land Office has seen back-to-back years of revenue over $1 billion. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The money earned from leasing activity supports 22 beneficiaries – New Mexico public schools, seven universities and colleges, the School for the Deaf, the School for the Blind and Visually Impaired, three hospitals, water and land conservation projects, and public building construction and repair.