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HomenewsIn New Jersey, Netflix Is Planning to Build a $900 Million Facility...

In New Jersey, Netflix Is Planning to Build a $900 Million Facility on The Site of A Former Military Post

On Wednesday, Netflix announced plans to construct a state-of-the-art production facility at a former Army installation on the Jersey Shore, at an estimated cost of more than $900 million and the creation of thousands of jobs.

Located between Eatontown and Oceanport, the old Fort Monmouth military base is selling 292 acres to the streaming video service for $55 million.

Netflix plans $900M facility at former New Jersey Army base

The California-based firm intends to spend an additional $848 million on 12 sound stages and other film-related applications.

CEO and co-founder Ted Sarandos is overjoyed to be increasing the company’s already substantial investments in New Jersey and the Americas. In addition to spawning a thriving production environment in New Jersey, “we believe a Netflix studio can benefit the local and state economy with thousands of new jobs and billions in economic activity.”

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The Fort Monmouth Economic Revitalization Authority voted to accept Netflix’s bid above three other proposals, and the news was released that evening.

Democratic New Jersey Governor Phil Murphy said, “This transformative investment will serve as a cornerstone in our efforts to establish a successful sector from whole cloth.” The approximately one billion dollars spent on film production will cement New Jersey’s position as a rising national leader in the television and film industries.
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He added that the area’s economy will benefit from the project because it would bring new homes, hotels, and businesses associated to the film industry to the area, which has been struggling since the Army decommissioned the post in 2011.

The project will be completed in two stages over the course of several years. As a first step, a total of 12 sound stages, ranging in size from 15,000 to 40,000 square feet, will be built (around 1,400 to 3,700 square meters).

Netflix plans $900M facility at former New Jersey Army base

Additional construction may consist of offices, production service buildings, and related studio space, with the possibility of retail applications.

Michele Siekerka, CEO and president of the New Jersey Business and Industry Association, expressed her excitement over the potential of the Netflix initiative. The collaboration between Netflix and New Jersey is focused on creating new jobs and new technologies, just as they have been throughout Fort Monmouth’s history.
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Multiple state and local permits are needed before construction can begin. On the site of a former Newark public housing project, which has since been razed, a new television and film production facility will be constructed. Officials announced in May that global entertainment supplier Lionsgate would serve as the flagship tenant of the 5 million, 12-acre facility.

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