Streaming giant-turned-production company Netflix announced it is bringing a massive new studio to Bushwick.
The facility will be over 170,000 square feet and comes equipped with six sound stages, editing suites, and meeting and screening rooms. Netflix estimates that they will be able to film two television shows simultaneously or one feature-length film in the new building at any given time.
Netflix has steadily produced more and more projects in New York City over the past decade, thanks in part to New York State’s tax incentive program that allocates $420 million a year in breaks to attract film and television productions.
“This is really important for New York,” said Anne del Castillo, commissioner of the New York City Mayor’s Office of Media and Entertainment. “It’s not just nice to have, it’s a real economic driver.”
In addition to the new studios, Netflix has pledged to spend over $100 million in New York City and create thousands of new jobs. In response, New York State pledged $4 million in tax credits to the streaming company over the next 10 years, contingent upon the amount of jobs Netflix creates and retains.
Michael Manas, Netflix’s head of operations in Brooklyn, sees the new studio as a win for the local community and the film industry as a whole.
“It’s such a critical time for industry to say, ‘we’re here and we’re back,’” said Manas. “This really is a neighborhood project.”