Archive: Business & Technology

Governor Andrew M. Cuomo announced yesterday that Netflix, the world's leading internet entertainment service, will expand its presence in New York with a production hub in New York City, bringing 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 over the next five years, and six sound stages in Brooklyn with the capacity to hold thousands of production crew jobs within five years. This announcement furthers Governor Cuomo's commitment to supporting New York's tech and entertainment sectors to create strong jobs across the state.

"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," Governor Cuomo said. "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."

Jason Hariton, Director of Worldwide Studio Operations & Real Estate at Netflix said, "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."

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 company - which has a long history of production in New York including Orange is the New Black, Unbreakable Kimmy Schmidt, She's Gotta Have It, The Irishman, Someone Great, Private Life and Russian Doll - has also leased approximately 161,000 square feet to build six sound stages and support spaces at 333 Johnson Avenue in Brooklyn. These spaces are expected to house thousands of production jobs within five years.

Empire State Development President, CEO and Commissioner Howard Zemsky said, "Thanks to Netflix, online streaming has become as commonplace as cable television, and maybe even more accessible - and their decision to expand in New York is a validation of our work to support and develop New York's technology, entertainment and production industries."

To support Netflix's creation of 127 high-paying office-based jobs by 2024 - and to compete with other cities under consideration - Empire State Development has offered up to $4 million in performance-based Excelsior Tax Credits over ten years, which are directly tied to real job creation. To receive the full incentive, Netflix must create the 127 jobs by 2024 at its new executive production office and then retain those new jobs and their existing 32 office jobs for another five years.

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