Second Major Studio Chooses Albuquerque

14 Jun, 2019

Today, June 14th, Gov. Michelle Lujan-Grisham announced that NBCUniversal has chosen Albuquerque for a production facility that will employ 330.  An expanded Film Production Tax Credit, $75M LEDA deal closing fund, the partnership of the Garcia family, and New Mexico’s fast-growing, excellent crew base made this project a reality. 

NBCU will lease buildings totaling 83,000 square feet for 10 years from Garcia Realty and Development.  The facility will include two sound stages, office and support areas, storage and a mill.  The company has committed over the duration of the lease to $500M in production direct spend; it will provide $55,000 annually in workforce development support; and it will develop a marketing strategy to promote Albuquerque and New Mexico valued in excess of $500,000 per year.     

A State LEDA investment of $7.7M will support the lease of the facility over the 10 years.  The City of Albuquerque will contribute $3M from its LEDA fund. 

The project will generate $25M in taxes and a direct economic impact of $1.3B over 10 years.

 NBCUniversal owns and operates a portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks, and a suite of leading Internet-based businesses.  NBCUniversal is a subsidiary of Comcast Corporation.