NBCUniversal to Invest $500 Million in a Production Studio in Albuquerque

NBCUniversal is setting up shop in New Mexico, announcing plans on Friday to build a new TV and film studio in Albuquerque and pledging to spend $500 million in production over the next 10 years.

NBCU is entering into a 10-year venture with Garcia Realty and Development to redevelop an empty free-span warehouse in the New Mexico area into a state-of-the-art studio with two sound stages, offices and a mill. Over the next 10 years, NBCUniversal will produce television and film projects at the Albuquerque facility, with the aim of reaching $500 million in direct production spending…

The deal comes just months after Gov. Grisham signed into law one of the most aggressive incentive packages for the film and television production industry in the United States, which doubled the annual payout for productions that come to New Mexico. This also comes as other states like Georgia and Louisiana are coming under fire for new abortion laws that have led to calls for Hollywood studios to boycott those states.

Lots of solid movie production talent with decades of experience here in New Mexico. Sounds like a win all the way round.