Amazon's loss is Netflix's gain.
Two months after Amazon was pressured to pull out of its planned New York City headquarters, Netflix is laying down roots in New York. The streaming giant is expanding its presence in the state by launching a production hub in New York City, it was announced Thursday by Gov. Andrew Cuomo. With the move, the digital behemoth promises to bring in hundreds of jobs and up to $100 million in investments to the city.
The production hub will include an expanded office in Manhattan that will directly create 127 high-paying executive content, marketing and production development jobs by 2024. In addition, Netflix has also leased approximately 161,000 square feet to build six soundstages in Brooklyn with the capacity to hold thousands of production crew jobs within five years.
"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," said Cuomo. "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's new corporate offices will take up approximately 100,000 square feet at 888 Broadway in Manhattan's Flatiron District. The offices will house the 127 new executive content acquisition, development, production, legal, publicity and marketing positions, in addition to Netflix's 32 current New York-based employees.
The streamer has shot several projects in the state, most famously Orange Is the New Black. Other films and TV shows that Netflix filmed in New York include Unbreakable Kimmy Schmidt, She's Gotta Have It, The Irishman, Someone Great, Private Life and Russian Doll.
"New York has created a film-friendly environment that's home to some of the best creative and executive talent in the world, and we're excited to provide a place for them at Netflix with our production hub," said Jason Hariton, director of worldwide studio operations and real estate at Netflix.
To support Netflix's creation of the dozens of high-paying, office-based jobs in the next five years — and compete with other cities under consideration — the Empire State Development office has offered up to $4 million in performance-based tax credits to Netflix over the next 10 years. They will be directly tied to real job creation, meaning that in order to receive the full incentive, the streamer has to not only create the jobs but also retain those jobs and their existing 32 office jobs for another five years.