The NBCUniversal deal is almost made for the big screen.
There’s a hero – Ed Garcia, a real estate investor who wouldn’t say die when it came to his Martineztown warehouse.
There’s supporting cast – lawmakers who have worked behind the scenes and in front of the cameras for years to craft the balance on subsidies for the behemoth film industry.
There was conflict – when locals scoffed at Garcia’s asking price for the Commercial Street property, he held onto the line, hoping against hope to land a whale.
There’s a final feel-good scene: NBCUniversal announces plans to employ more than 330 full-time workers and spend $500 million over a decade to create projects in Albuquerque. These are good, skilled jobs that will pay a good wage. When indirect workers are included, the company’s presence will have an estimated $1.1 billion economic impact over 10 years.
And there’s the distinct possibility of sequels: With heavy hitters Netflix and NBC landing in the Duke City, are more to follow? It’s good news, though serious questions remain about how much the public will actually derive from – and how long it can afford to dole out – tax-funded subsidies with huge carve-outs on caps. It bears careful, constant scrutiny.