Netflix is making a major investment in Canada.

It was announced on Thursday that the company would create Netflix Canada, the first production company for Netflix outside of the U.S.A.
 

With this move will come a minimum $500 million investment in Canadian content over the next five years.

“Fans around the world are already falling in love with Netflix originals produced in Canada,” said Netflix CCO, Ted Sarandos. “Today’s announcement affirms there’s more to come as Netflix launches Netflix Canada, our permanent production presence in Canada.”

“We look forward to continuing our work with Canadian talent, producers, broadcasters and other local partners to create Netflix originals in Canada for many years to come.”
 

Photo Credit: Netflix
 

Under this new agreement, Netflix will establish a permanent, multi-purpose film and television production presence in Canada.

They’ll also invest the $500 CAD over the next five years to create original productions in Canada that will be distributed across Netflix’s global platform.

It will also support Canadian French-language content on the Netflix platform and ensure that all Canadian content is highlighted and promoted to Netflix subscribers world wide.
 

“The Government of Canada is committed to growing our creative industries with new investments that create opportunities for creators and producers across the country to make great content that stands out,” said Mélanie Joly, Minister of Canadian Heritage. “This agreement, the first of its kind in the world, will ensure the investment of more than $500 million in original production in Canada in both official languages.”

This investment, and future ones like it, give Canadian producers and creators more access to financing, business partners and ways to connect with global audiences.