Netflix to open a production hub in New York and invest up to $100 million in the city
Start spreading the news. Netflix is coming to New York City in a big way.
The streaming media service has committed to invest up to $100 million to build a production hub and hire hundreds of new staffers in the Big Apple, according to a statement from Governor Andrew M. Cuomo.
Netflix’s new production hub will include an expanded Manhattan office and six sound stages in Brooklyn that could bring hundreds of executive positions and thousands of production crew jobs to New York within the next five years, according to a statement from the Empire State Development Corp.
“New York has created a film-friendly environment that’s home to some of the best creative and executive talent in the world, and we’re excited to provide a place for them at Netflix with our production hub,” said Jason Hariton, director of Worldwide Studio Operations & Real Estate at Netflix, in a statement.
The new corporate offices Netflix has planned will occupy 100,000 square feet in Manhattan at 888 Broadway, housing 127 new executive content acquisition, development, production, legal, publicity and marketing positions. They’ll join the 32 employees Netflix currently has in New York.
Netflix already produces Orange Is the New Black, Unbreakable Kimmy Schmidt, She’s Gotta Have It, The Irishman, Someone Great, Private Life and Russian Doll in New York and has leased 161,000 square feet to build sound stages and support spaces in Brooklyn’s East Williamsburg neighborhood.
To sweeten the pot for Netflix, the Empire State Development Corp. has offered $4 million in performance-based Excelsior Tax Credits over 10 years, which the corporation says are tied to real job creation. To receive the incentive, Netflix must create 127 jobs by 2024 at its executive production office and retain those jobs for another five years.