June 21, 2019 – Last week, NBCUniversal announced plans to expand its film and TV production with a multimillion-dollar project in downtown Albuquerque. The state is investing up to $7.7 million along with $3 million from Albuquerque in Local Economic Development Act (LEDA) funding to convert a present warehouse into a state-of-the-art studio. In return for these investments and additional tax incentives, NBCUniversal has committed to $500 million dollars of spending over the next decade, more than 300 full-time jobs at good wages, and $55,000 per year into training programs.
While the Albuquerque City Council voted unanimously to approve the city’s share of the funding, not everyone is on board with the investment, including the Rio Grande Foundation, a tax watchdog group. Gene Grant and the Line opinion panelists weigh in on whether they think it’s a good economic deal for New Mexico.
Janice Arnold-Jones, former NM state representative
Tom Garrity, The Garrity Group PR
Giovanna Rossi, Collective Action Strategies, “The Well Woman Show” (KUNM)
Harry Van Buren, UNM Anderson School of Management
For Further Reading:
City Council approves NBCUniversal incentive package – by Ron Davis, Albuquerque Business First
UPDATED: Getting NBCUniversal to open ABQ studio was a race to the finish – by Ron Davis and Rachel Sams, Albuquerque Business First