Netflix To Build Production Facility at Fort Monmouth, NJ
Netflix and Governor Murphy recently announced plans to develop a state-of-the-art East Coast production facility on the former Fort Monmouth campus in Monmouth County, transforming property that has been largely vacant for more than a decade into an economic engine that is estimated to create more than 1,500 permanent production jobs and more than 3,500 construction-related jobs in New Jersey.
“This transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth,” said Governor Murphy. “As a result of nearly a billion dollars in film production spending, New Jersey will further solidify its status as an emerging national leader in the television and film industries. Additionally, Netflix’s substantial direct investment will stimulate job creation and spark an entirely new ecosystem of housing, hotels, and ancillary businesses and services, bringing with it countless additional jobs and boosting the regional economy.”
Netflix plans to commit $848 million in capital investments to develop the more than 292-acre parcel, adjacent to Route 35 in Eatontown and Oceanport, into 12 state-of-the-art soundstages totaling nearly 500,000 square feet of new development, with the remainder of the property slated for redevelopment with supporting film uses and several community amenities.
“A little over a decade ago, Oceanport’s most important economic and social driver, Fort Monmouth, closed. When the Fort shut down, jobs disappeared, families moved away, and an empty, barren, Fort Monmouth served as a constant reminder of what we had lost. From a redevelopment standpoint, however, what has transpired over the past six years or so in the Oceanport section of Fort Monmouth has been nothing short of remarkable. Netflix’s arrival allows for an incredibly advantageous and creative re-use of this property and will serve to restore a great deal of economic vitality and social energy to Oceanport and Monmouth County at large. Oceanport is thrilled to be part of this proposed redevelopment and we look forward to participating with Netflix in the continued economic and social revitalization of Fort Monmouth” said Oceanport Mayor Jay Coffey.
“The Borough of Eatontown is excited to participate in what is most likely the largest and most complex redevelopment project in the State. While nothing can fill the emotional void left by the closing of Fort Monmouth, this project will provide a strong economic boost to the region and attract an exciting and vibrant industry to the area,” said Eatontown Mayor Anthony Talerico, Jr.
Netflix’s plans for a sustainable, integrated film studio campus will be completed in two phases over the course of several years. The first phase of the project will include the construction of 12 soundstages ranging in size from 15k square feet to 40k square feet with a minimum total buildout of 180k square feet and a maximum buildout of 480k square feet.
The site will also include office spaces, production services buildings, mil space, and studio backlots, with the potential for customer-facing components, such as retail and consumer experiences.
“We're thrilled to continue and expand our significant investment in New Jersey and North America. We believe a Netflix studio can boost the local and state economy with thousands of new jobs and billions in economic output, while sparking a vibrant production ecosystem in New Jersey," said Ted Sarandos, Netflix Co-CEO and Chief Content Officer. "We look forward to working with Governor Murphy, his administration and local leaders to finalize this deal in the months ahead. We thank the FMERA Board and their staff for selecting Netflix as the winning bid and for supporting our mission to create a state-of-the-art production facility at Fort Monmouth."
The announcement of Netflix’s new development in Monmouth follows the authorization by the Board of the Fort Monmouth Economic Revitalization Authority (FMERA) of a Purchase and Sale & Redevelopment Agreement with Netflix for the property. The board chose Netflix from four total applicants that submitted proposals for redevelopment. The deal now enters a due diligence period and local approvals process before being finalized.
Netflix will pay $55 million for the parcel, including a utility contribution of $5 million and the FMERA office relocation fee of $3 million.
“The closing of Fort Monmouth was a devastating economic blow to our region, one from which we continue to strive to overcome,” said Senator Vin Gopal. “The Netflix plan to develop a production facility on the fort’s campus in Monmouth County, creating both permanent production jobs as well as construction jobs, will be a welcome boon to our economy. I want to commend both NJEDA and FMERA for their tireless work in promoting the economic potential of the region, and for bringing back the commercial vibrancy of the Fort Monmouth area. This Netflix redevelopment will certainly play a starring role in that continuing revitalization.”
The parcel of land to be developed by Netflix contains former residential, administrative, and R&D buildings, warehouses, workshops, and additional general-purpose facilities in the Borough of Eatontown and Oceanport, within the Main Post Section of Fort Monmouth. It is conveniently located adjacent to State Route 35, providing easy access to the Garden State Parkway, Route 18, NJ Transit Bus Lines, and County Route 11 (Oceanport Avenue), which provides direct access to the Little Silver NJ Transit Train Station.
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