Netflix is buying its first production studio complex

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The New Mexico location will help produce more shows in the state.

Netflix isn’t just expanding its footprint in California. The streaming behemoth is planning to open a production hub in New Mexico by acquiring Albuquerque’s ABQ Studios — its first purchase of a production studio complex. It’s making the deal (which is still in “final negotiations”) in part due to incentives, which include up to $10 million in Local Economic Development Act funding from the state as well as a maximum of $4.5 million from Albuquerque.

Naturally, Netflix is positioning this as a net positive for the state. It expects the hub to provide $1 billion in productions to New Mexico in the next ten years, and as many as 1,000 production jobs per year. Whether or not that’s true, it could add further cachet to a complex that has been involved in filming for titles ranging from Breaking Bad to Logan.

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