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State-of-the-art facility to bring union jobs, boost the local economy and mark New Jersey's resurgence in entertainment.
11-03-2023 1:39pm
Netflix Sets Stage at Fort Monmouth: A New Era for NJ's Film and TV Industry
Morristown, NJ - Today, Governor Phil Murphy, in collaboration with Netflix co-CEO Ted Sarandos and a host of state officials and labor representatives, announced a significant milestone in New Jersey's film and television resurgence. This revolves around the impending development of a grand Netflix production facility at the former Fort Monmouth campus in Monmouth County.
Governor Murphy declared, “Netflix’s historic investment in Fort Monmouth’s future, which will generate thousands of union jobs and significant revenue, is a testament to our broader strategy when it comes to establishing New Jersey as the Northeastern home for film and entertainment.”
The transformation of the Fort Monmouth campus from a symbol of economic decline to one of rejuvenation and opportunity is in full swing, with local businesses also anticipating a surge in customers due to the project.
Netflix's ambitious venture encompasses an $848 million capital commitment to foster a cutting-edge production complex over the 292-acre expanse that bridges Oceanport and Eatontown. This venture, unprecedented in scale and financial investment for Fort Monmouth, follows over 30 other redevelopment initiatives that have been instigated since the military base's closure a decade ago.
Highlighting the grandeur of the project, the facility will feature 12 state-of-the-art soundstages, amassing over 500,000 square feet. The plan also includes the refurbishment of existing structures into studio backlots, office spaces, and various roles in support of film production activities. A pivotal component of this redevelopment is the introduction of affordable housing units for the local community.
Ted Sarandos, Netflix co-CEO, expressed his enthusiasm, stating, “Netflix Studios Fort Monmouth will drive significant economic growth and create meaningful job opportunities for people in New Jersey.”
Sarandos underscored New Jersey's historical connection to the inception of the modern film industry, signifying Netflix's commitment to rejuvenate and continue this legacy.
Senate President Nick Scutari championed the initiative as a means to revitalize New Jersey's storied past as the movie industry's birthplace, emphasizing the long-term economic benefits. Similar sentiments were echoed by Assembly Speaker Craig Coughlin and Senator Vin Gopal, both of whom hailed the project's potential to amplify local economic activity and provide job opportunities.
On a broader spectrum, New Jersey's commitment to its film and television industry has been evident over the past six years. Collaborative efforts between the Administration, the Legislature, and the New Jersey Motion Picture & Television Commission have led to a lucrative film incentive program, attracting more businesses and productions to the state.
In just the previous year, the film and TV production sector injected over $650 million into New Jersey's economy, a significant jump from the prior year, generating more than 8,500 jobs.
The local leaders, including Monmouth County Commissioner Director Thomas A. Arnone, Oceanport Mayor John Coffey, and Eatontown Mayor Anthony Talerico, Jr., hailed the endeavor as a transformative stride for their communities, foreseeing a revitalized economic landscape.
Concluding the announcement, Michele Siekerka, President and CEO of New Jersey Business & Industry Association, resonated with the state's vibrant history and potential, stating, "Netflix’s capital investments will result in future-proof production industry jobs that will help bolster our state’s economy and enhance our identity as a national go-to for both small and large productions."
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