June 14, 2019
Today, June 14th, Gov. Michelle Lujan-Grisham announced that NBCUniversal has chosen Albuquerque for a production facility that will employ 330. An expanded Film Production Tax Credit, $75M LEDA deal closing fund, the partnership of the Garcia family, and New Mexico’s fast-growing, excellent crew base made this project a reality.
NBCU will lease buildings totaling 83,000 square feet for 10 years from Garcia Realty and Development. The facility will include two sound stages, office and support areas, storage and a mill. The company has committed over the duration of the lease to $500M in production direct spend; it will provide $55,000 annually in workforce development support; and it will develop a marketing strategy to promote Albuquerque and New Mexico valued in excess of $500,000 per year.
A State LEDA investment of $7.7M will support the lease of the facility over the 10 years. The City of Albuquerque will contribute $3M from its LEDA fund.
The project will generate $25M in taxes and a direct economic impact of $1.3B over 10 years.
NBCUniversal owns and operates a portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks, and a suite of leading Internet-based businesses. NBCUniversal is a subsidiary of Comcast Corporation.
Tags: film, major studio, new jobs, new mexico film partners