Netflix announced it will open a permanent production hub in Albuquerque, New Mexico. It's the first time the company has acquired a production complex like this in the U.S.
Netflix says it's in the final stages of acquiring ABQ Studios, which has eight sound stages, production offices, mill space and a back lot. The company says it hopes to bring $1 billion in production to the state over the next 10 years and create 1,000 jobs every year.
New Mexico Gov. Susana Martinez and Albuquerque Mayor Tim Keller called Netflix's decision an honor and a victory. In 2013, the governor signed the so-called "Breaking Bad bill" — named after the series largely filmed in New Mexico — that gives production companies financial incentives to film in the state.
On Monday, Gov. Martinez said, "After years of hard work to cut taxes and make New Mexico business-friendly, we're seeing incredible results."
Netflix says it will produce TV and film series at the new hub and other locations in the state. Two shows are already being produced in the Albuquerque area, providing hundreds of jobs.
Netflix announced a few months ago it was creating its first European production hub in Madrid, where the company plans to make more Spanish-language original content.
Netflix has more than 130 million subscribers in over 190 countries.