Streamer bringing “up to $100 million in investments to the city,” Gov. Andrew Cuomo says
Netflix intends to open a new corporate office and production facility in New York City, the company and New York Gov. Andrew Cuomo said Thursday in a joint statement.
The facility will bring up to $100 million in investment, Cuomo and Netflix said. New York Lt. Gov. Kathy Hochul also said the new facility has “the potential for thousands of jobs.”
Netflix’s new office will be located at 888 Broadway in the Flatiron District. It will take up 100,000 square feet of office space, and the company plans to lease another 161,000 square feet in Brooklyn in order to build six sound stages. Netflix and Cuomo said that by 20204 the Manhattan office will create 120 new executive positions by 2024; and within five years, the Brooklyn facility will have “the capacity to house thousands of jobs.”
“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,” Gov. Cuomo said in a statement. “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, headquartered in Silicon Valley and now firmly established in Hollywood, is coming to New York soon after Amazon canceled its plans to open a new East Coast hub in Queens.
“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, director of worldwide studio operations and real estate at Netflix, said.
Netflix will receive up to $4 million in tax credits over the next decade; to receive the full cut, Netflix must create the 127 executive positions it said it would by 2024, according to the Gov. Cuomo’s office.
Netflix, which just announced earlier this week it is on the verge of hitting 150 million total subscribers, has produced several of its best-known shows in New York, including “Orange is the New Black” and “Unbreakable Kimmy Schmidt.” Its upcoming Martin Scorsese crime epic, “The Irishman,” starring Robert De Niro and Al Pacino, is also closely tied to the city.