Netflix is planning to create a production hub in New York, bringing hundreds of additional jobs and up to $100 million in investment to the city, according to New York Gov. Andrew Cuomo.
According to the Governor, the production hub will include an expanded office in Manhattan that will directly create 127 high-paying executive content, marketing and production development jobs over the next five years, and six sound stages in Brooklyn with the capacity to hold thousands of production crew jobs within five years.
"Netflix is innovative, creative and bold - just like New Yorkers - and the expansion of this cutting-edge company in New York once again demonstrates the Empire State is open for business," Governor Cuomo said in a press release announcing the move. "We're proud Netflix chose New York to grow its business, and we look forward to the jobs, economic activity and world-class productions this project will bring."
Netflix's new corporate offices will take up approximately 100,000 square feet at 888 Broadway in Manhattan's Flatiron District. The offices will house the 127 new executive content acquisition, development, production, legal, publicity and marketing positions in addition to Netflix's 32 current New York-based employees.
In return for creating jobs, Netflix will receive up to $4 million in performance-based Excelsior Tax Credits over ten years from Empire State Development, which are directly tied to real job creation. To receive the full incentive, Netflix must create the 127 jobs by 2024 at its new executive production office and then retain those new jobs and their existing 32 office jobs for another five years.
"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 Netflix’s director of worldwide studio operations & real estate Jason Hariton in a press release.
Netflix has a long history of production in New York -- Orange is the New Black, Unbreakable Kimmy Schmidt, She's Gotta Have It, The Irishman, Someone Great, Private Life and Russian Doll were all produced in the city. The leased Brooklyn space will enable the company to build six sound stages and support stages, which are expected to house thousands of production jobs within five years.