The company will lease more than 200,000 square feet of office and production space
Streaming giant Netflix is making big moves in New York City: Gov. Andrew Cuomo announced today that the state has brokered a deal for the entertainment company—which now has close to 149 million subscribers worldwide—to create a so-called "production hub" in the city.
Not only will Netflix expand its office space in Manhattan with a 100,000-square-foot corporate office in the Flatiron District, it will also create six brand new sound stages in Bushwick. The company has leased 161,000 square feet in Brooklyn that will eventually be capable of holding "thousands of production crew jobs" in the next five years, according to Cuomo's office.
"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," Jason Hariton, Netflix's director of worldwide studio operations & real estate, said in a statement.
To get Netflix to New York, the Empire State Development Corporation offered $4 million in tax credits via its Excelsior program, which ties that incentive to job creation. Netflix must create 127 promised jobs in its corporate office by 2024 to get the full reimbursement. The new office and production space is expected to bring back about $100 million back to the city, per Cuomo's office.
Netflix already has a presence in the city, with series like Orange Is the New Black, The Unbreakable Kimmy Schmidt, and, most recently, Russian Doll filming throughout the five boroughs. But the streaming service has typically filmed its series at other sound stages in city, including Silvercup Studios and Kaufman Astoria Studios in Queens.
In addition to its New York City space, Netflix already has so-called "production hubs" in Toronto, Madrid, and New Mexico, in addition to leasing hundreds of thousands of square feet throughout Los Angeles.
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