On Wednesday, Netflix announced plans to invest $903 million on a production centre at the former Fort Monmouth in New Jersey, which would serve as a key point in for the streaming entertainment giant’s East Coast activities.
According to a joint statement released by Netflix and Governor Phil Murphy, the Fort Monmouth Economic Revitalization Authority approved Netflix’s plan at its meeting at 5:00 p.m. on Wednesday.
A tweet of support from Murphy after the vote made the deal seem like a done thing, even though it won’t be until the due diligence time and local approvals process are complete.
In October, Netflix beat out three other potential buyers for a 292-acre “mega lot” that comprises roughly a fifth of the former U.S. Army facility that was closed in 2011.
On Wednesday, the firm announced the winning bid of $55 million, with an additional $848 million set aside to build a large, state-of-the-art Netflix Studios Fort Monmouth complex (a working but unofficial title).
Located between Eatontown and Oceanport, close to Route 35, Netflix has big plans for the land there. They want to build 12 soundstages there, for a total of almost 500,000 square feet. Behind the iconic Fort Monmouth gateways, artists’ renderings show a bustling business district complete with multi-story production stage buildings and offices.
When asked about the size of the new facility, Netflix’s Director of Content & Studio Affairs Rajiv Dalal said to NJ Advance Media that it will be “on par with our 300-acre complex in Albuquerque.” The approval was given on Wednesday.
Dalal, a resident of North Caldwell, exclaimed, “We’re super-excited about going one step closer to actually making this is a reality.”
Netflix predicts that 3,000 to 3,500 people will be employed at peak construction. The Netflix spokeswoman estimated that 1,400 to 2,200 people will be employed once the facility opened for business, though the company did not specify a specific opening date.
Our plan was the best in its class because of the positive effect it would have on the economy. Dalal emphasised the need for employment three times.
In October, after it was revealed that Netflix was one of the four bidders, Murphy’s government issued a statement that made no promises.
A “transformative investment” that will “act as a cornerstone in our attempts to develop a successful sector from whole cloth,” as Murphy put it in his Wednesday press conference, the idea has been widely praised.
The state’s governor stated in a statement that the investment of nearly a billion dollars in film production will help establish New Jersey as a “rising national leader” in the television and film industries.
Also, as Murphy points out, “Netflix’s huge direct investment will encourage job creation and spawn an altogether new ecosystem of homes, hotels, and auxiliary companies and services, bringing with it countless additional jobs and benefiting the area economy.”
The planned Netflix building would serve as the company’s primary East Coast production hub.
Dalal predicted that the state of New Jersey would soon become a major producer of media that would be viewed around the world.
A representative from Netflix stated that the business had a great time filming in New Jersey, namely in Atlantic City, for the 2021 release of “Army of the Dead,” a zombie heist film.
They plan to take use of New Jersey’s “top-notch crews and talent” and “vibrant creative industry,” a business representative said.
According to Netflix, the proposed facility would function as a tourist attraction and serve as the setting for future television shows and movies.
Fort Monmouth’s parade grounds, World War II Memorial, and Cowan Park, all of which are on the list of base buildings to be preserved, would not be affected.
In his words, “they will remain available to the community,” Dalal assured. In the summer, we will hold screenings in the park.
The spokesperson predicted that the building and production activity would add between $3.8 billion and $4.6 billion to the New Jersey economy over the course of 20 years. Workforce development training programmes would also be available on Netflix.
As Dalal explained, a large chunk of the $848 million price tag will go into demolishing structures and cleaning up the property, both of which are standard operating procedures when redeveloping a decommissioned military installation.
There were two Netflix originals that premiered this fall that took place in New Jersey but was actually filmed in other states.
The Watcher, a Netflix original series, was filmed in Rye, New York, and is based on the unsolved mystery of a series of letters sent to the new owners of a house in Westfield by an unknown author.
The story of New Jersey nurse Charles Cullen, who admitted to killing at least 29 patients between 1988 and 2003 while employed at hospitals in both states, is told in “The Good Nurse.”
Note from the Editor: The item has been amended to reflect the redevelopment plan’s acceptance by the Fort Monmouth Economic Revitalization Authority and a more accurate estimate of its cost, as well as a statement from New Jersey Governor Phil Murphy.