(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.
Proud to announce @Netflix will expand its presence in NY with a production hub in NYC, bringing hundreds of jobs and up to $100m in investments.
Netflix is innovative, creative and bold—just like New Yorkers—and this expansion demonstrates the Empire State is open for business. https://t.co/eg0UMwhLUV
— Andrew Cuomo (@NYGovCuomo) April 18, 2019
“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.