Netflix is expanding with a new production hub Toronto, which will reportedly create nearly 2,000 jobs for Canadians every year.
Netflix‘s latest development is a new production hub in Canada. The expansion will include two studio spaces in Toronto, Ontario.
According to reports, Netflix will lease around 164,000 square feet of property at Cinespace Studios, which includes four sound stages, office space and support space. The streaming giant will also lease four sound stages and office space at Pinewood Toronto Studios, which will include another 84,580 square feet.
Both sites will support several Netflix TV shows and movies providing production jobs for up to 1,850 Canadians every year.
“With this commitment to Cinespace and Pinewood Toronto, we are proud to continue our investment in Canada and Canadian films and series,” said Ty Warren, vice president of physical production for Netflix.
“These new leases will enable us to expand our presence in Canada and provide a wealth of production jobs for skilled Canadian workers.”
Netflix already films several of their projects in Canada at the Martini Film Studios in British Columbia. In fact, several productions have filmed in Canada including “A Series of Unfortunate Events,” “The Chilling Adventures of Sabrina,” “Game Over Man,” “The Package,” and more all filmed in British Columbia.
Netflix announced in 2017 they were committed to investing $500 million in content production in Canada over the next five years. They are currently on track to exceed that investment.
Canada’s Film Industry
Netflix’s investment in Canada should not come as a surprise. Canada’s weak dollar and film tax credits make filming in the country a worthwhile investment.
It is no lie, Georgia’s film industry is booming. With billions of dollars being pumped into the Peach State, Georgia’s film industry is the fastest growing in the world.
However, Georgia’s film industry may come to a complete stop if Canada’s dollar continues to fall. According to a report by Etan Vlessing with the Hollywood Reporter, Canada can quickly become the new Hollywood if the U.S. economy doesn’t change.
In addition to Canada’s film tax credit, the U.S. dollar is worth so much more. That means producers can hire more extras, build bigger sets, and cast bigger actors at a fraction of the price.
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