NBC Universal has unveiled plans to invest five-hundred million dollars over the next decade into a new studio in Albuquerque, New Mexico. According to Hollywood Reporter, the ten-year plan is expected to create 330 jobs and an estimated one billion in economic development. This agreement was was announced Thursday at the Albuquerque production headquarters, where Governor Lujan Grisham and Mayor Tim Keller were thanked by NBC Universal for their economic development team’s contributions in making the investment a reality.
According to the agreement, New Mexico’s economic development office will provide $7 million through the Local Economic Development Act (LEDA), while Albuquerque will give $3 million using their own funds. Garcia Realty and Development will help turn an empty warehouse within the New Mexico area into a state-of-the-art production studio. The studio will be equipped with two sound stages and offices. Once the studio is completed, NBC Universal will use the new facility to produce scripted productions for broadcast and cable channel platforms. Currently the upcoming USA Network series ‘Briarpatch’ is set to film in Albuquerque under the Universal banner.
However, 2018 also saw Netflix spend one billion dollars in productions to acquire ABQ Studios in Albuquerque Del Sol Community. So NBC Universal won’t be the only entertainment company to start building in New Mexico.