Netflix has committed $1 billion to the project.

Netflix made a major announcement last week and revealed a plan to add 300 acres to its production space at ABQ Studios Albuquerque, in New Mexico, making it one of the largest production hubs in North America. Netflix has committed $1 billion to the project.

The planned expansion project will include 10 new stages, training facilities, backlots, post-production services, commissary, wardrobe facilities, and other buildings. As part of the deal, Netflix will purchase 170 acres and lease the other 130 acres from the State Land Office.

This will bring at least 1,000 new production jobs to the area—over 1,400 construction jobs alone. Netflix purchased ABQ Studios in 2018.

Stranger Things 4 is set to begin production there soon, and Netflix will move most of its productions that are currently filmed in Atlanta to New Mexico. There are several Netflix films in production in the state, including The Harder They Fall and Intrusion.

“New Mexico provides an outstanding production and business environment in close proximity to Los Angeles with some of the best crews and creative talent in the world. The expansion will bring many new high-tech and production jobs to the region. It allows us to be more nimble executing our production plans while cementing the status of the region as one of the leading production centers in North America,”  said Netflix CEO Ted Sarandos.

This is particularly good news for the state of New Mexico, as well as for Netflix, which, in recent years, has become a major player in the production of films and series. 

Share your thoughts on Netflix's production studio expansion in the comments below.