Netflix Continues Expanding in New York City

Netflix will be eligible for as much as $4 million in tax credits over a decade

(NEW YORK, NY) — New York Governor Andrew Cuomo revealed that streaming giant Netflix plans to move into a larger office in Manhattan taking over around 100,000 square feet at Normandy Real Estate Partners 888 Broadway in the Flatiron District and opening a brand new 161K square feet production hub, creating six brand new sound stages at 333 Johnson Ave. in Bushwick, and investing up to $100 million.

Netflix will be eligible for as much as $4 million in tax credits over a decade as part of the Excelsior Tax Credits program, but those credits are performance-based, meaning they’re tied to the company’s ability to create jobs. Netflix has to create 127 jobs by 2024, per Crain’s.

“Netflix is innovative, creative and bold — just like New Yorkers — and the expansion of this cutting-edge company in New York once again demonstrates the Empire State is open for business,” Cuomo said in a statement. “We’re proud Netflix chose New York to grow its business, and we look forward to the jobs, economic activity and world-class productions this project will bring.”

Netflix already has a significant presence in the city of New York, with series like Unbreakable Kimmy Schmidt, Russian Doll, Orange Is the New Black filming throughout tNew York City all year round.

Leave your vote

2 points
Upvote Downvote

Total votes: 2

Upvotes: 2

Upvotes percentage: 100.000000%

Downvotes: 0

Downvotes percentage: 0.000000%