NBC plans on building a new TV and movie studio in order to boost around $500 million on the production venture over the next ten years. Read on for more.
NBC Universal Coming to Albuquerque
The staff behind NBC Universal announced that they plan on building a state-of-the-art film studio in an old warehouse in the downtown area of Albuquerque.
There will be over 330 full-time jobs pumping production workers all year round, and about $550 million is to be invested in this venture. The media giant stated that they plan to remodel this old warehouse into two sound stages with offices and a mill where they intend to produce shows and broadcast cable channels.
Dawn Olmstead, the CEO of Universal Content Productions, stated that they’ve been happy with the long-standing relationship between the production house and New Mexico authorities and emphasized that they were genuinely grateful that this small community allowed this kind of venture to happen.
Pearlena Igbokwe, the CEO of Universal Television, wanted to give special thanks to Gov. Michelle Lujan Grisham and Mayor Tim Keller for providing their assistance during this project.
The main reason behind this expansion was the 10-year-long collaboration between the authorities and Garcia Realty to redevelop an empty warehouse in Albuquerque into a functioning facility.
The state officials noted that they offered over $10 million in incentives and made a significant promise to the community — an economic boom of an astonishing $1 billion within the next ten years.
Gov. Grisham noted that she was looking forward to the fact that this project would result in over 800 direct and indirect job opportunities, which is something this small community needs.
She stated that this was a home-run deal since the authorities were planning on growing New Mexico’s film industry and creating exciting, new job opportunities for their residents.
Grisham added that she got confirmation from the governor’s office in which he stated that NBC Universal planned on funding the workforce development initiatives as well as organizing aspiring director internships. That way, this collaboration can bring both an economic boost to the community and support local educational and mentorship institutions.
In the last couple of months, this city experienced a significant boost in the development of film productions, making it one of the top five film destinations.
Another media giant that is following in NBC Universal’s footsteps is Netflix, who sealed the deal at the beginning of 2019.