Netflix to open production hub in New York City

Hub to bring 'up to $100M in investments'

By Frank Pallotta, CNN Business
Justin Sullivan/Getty Images

The Netflix headquarters in Los Gatos, California.

Netflix is opening a production hub in New York City that will bring "up to $100 million in investments to the city," New York Gov. Andrew Cuomo announced Thursday.

The streaming video company's new Manhattan offices will take up approximately 100,000 square feet in New York's Flatiron District.

These offices will house 127 new jobs that include "content acquisition, development, production, legal, publicity and marketing positions." Those jobs will go along with Netflix's current 32 New York-based employees, according to the announcement.

The expansion will also include the creation of six sound stages in Brooklyn's East Williamsburg neighborhood. Netflix has leased approximately 161,000 square feet for the stages and the governor says they will house "thousands of production jobs within five years."

The state offered up to $4 million in performance-based tax credits to the company, which are tied to the job creation.

"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 in a statement.

Cuomo added that "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."

Some of Netflix's most popular original series and films have been produced in New York including "Orange is the New Black," "Unbreakable Kimmy Schmidt" and its upcoming Martin Scorsese film, "The Irishman."

Netflix reported on Tuesday that it's inching closer to the 150 million subscriber mark. The company has 148.8 million subscribers worldwide.

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