Netflix and Virgin Galactic shine positive light on state | KOB 4

Netflix and Virgin Galactic shine positive light on state

Patrick Hayes
Created: December 05, 2019 10:11 PM

ALBUQUERQUE, N.M.- On Thursday, Albuquerque business leaders listened to executives from two of the biggest companies in the state, Netflix and Virgin Galactic.

George T. Whitesides, CEO of Virgin Galactic, and Nick Maniatis, Head of North American Production Policy for Netflix, spoke at the Albuquerque Economic Development, Inc. Quarterly Investors’ Luncheon.

AED President Gary Tonjes said both companies will attract new businesses to the state.

Tonjes told KOB, "When companies are looking at an area, what they want to do is talk with others who are there so they're drawn to big names."

During the luncheon, Whitesides announced that Virgin Galactic has had a $36.5 million economic impact on New Mexico since 2011.

Additionally, the company said it relocated more than a hundred employees to southern New Mexico to work.

Whitesides didn’t say when the company would start taking customers into space but officials previously said 2020 could be the year.

Meantime, Netflix’s Maniatis said the company planned on putting together more than 1,000 projects this year.

As KOB previously reported, Netflix purchased ABQ Studios and promised to invest more than a $1 billion over the next 10 years.

Maniatis said he had good news to share about that promise but wanted to wait until next week to make the announcement.

Tonjes also told KOB that there would be some big announcements in the near future but wouldn’t go into detail.

"Our outlook is quite bright for -- not just the balance of this month -- with expectations of at least a new announcement or two but also in the first quarter of next year,” he said.

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