Netflix Inc. plans to open a new film and television production hub in New Mexico, the latest venture in the streaming entertainment giant’s ambitions to expand its cache of content.

On Monday, Netflix said it is nearing a deal to buy ABQ Studios, a production studio complex located in Albuquerque, N.M., that is owned by studio facility operator Pacifica Ventures.

The studio, where Marvel Studios’ “The Avengers” was in part filmed, as well as Disney’s “The Lone Ranger” and Lionsgate’s “Sicario,” was once run by Jason Hariton, who is now in charge of Netflix’s studio operations and real estate.

Once the deal closes, Netflix plans to hire a management company to oversee the studio employees.

Netflix, which announced the plans with New Mexico officials, including Gov. Susana Martinez, said it would bring $1 billion in production to the state over the next decade and create up to 1,000 production jobs a year.


The state would provide Netflix up to $10 million in economic development funding while the city committed up to $4.5 million for the project, the company said.

Netflix said it plans to produce film and television series such as “Daybreak,” “Chambers” and “Messiah” in the new facility and at other locations around the state. “Chambers” and “Messiah” are already being produced in the Albuquerque area, Netflix said.

Write to Maria Armental at maria.armental@wsj.com