Two months after Amazon (NASDAQ: AMZN) was pressured to cancel its planned New York City headquarters, Netflix, Inc. (NASDAQ: NFLX) is going to expand its New York City presence in its stead. New York State Gov. Andrew M. Cuomo. announced today that Netflix is planning to launch a major production hub, which will provide up to USD 100 Million in investments to New York City and result in hundreds of new 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,” Cuomo said. “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.”
According to an announcement released by Cuomo, the production hub will include an expanded office in Manhattan that will take up approximately 100,000 sq. ft. at 888 Broadway in Manhattan's Flatiron District. Also, it 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.”
“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.