Netflix has Unveiled plans for New York Production Hub
Netflix has announced its plans on Thursday about creating a New York City production center for its original programs. This initiative of Netflix will give rise to some thousands of new jobs.
It has been expected that up to $100 million will be invested as a part of the expansion of the officers present in Manhattan and six sound stages in Brooklyn.
The new corporate offices in Manhattan will spread across 9,000 square meters and will give rise to 127 new executive jobs. Right now there are only 32 executives in this office, and it will increase drastically after setting up the new production hub.
The company is planning to lease 15,000 square meters in Brooklyn for its production facilities. It is expected that these production facilities will be producing some thousands of production jobs within the next five years.
Netflix had a deal with the local officials, and according to it, the company will be eligible for up to 4 million USD tax credits for creating the jobs.
Andrew Cuomo, Governor of New York, said in a statement that Netflix is bold, innovative and creative similar to the New Yorkers. This expansion of cutting edge Company in New York will demonstrate that the Empire State is open for businesses.
The news came weeks after Amazon abandoned the plans to create additional headquarters in New York, a move that has resulted in bitter comments from Cuomo who praised the Amazon plan at first.
As Apple and Walt Disney are getting into the competition with Netflix, this number one streaming platform is ramping up it’s original programming.