Netflix Fort Monmouth
Netflix is taking monumental strides in unveiling the compound of Netflix Fort Monmouth to create one of the world’s most integrated and extensive production facilities. This transformative investment on a 289- acre Mega Parcel in parts of Eatontown and Oceanport will become the catalyst behind building state-of-the-art productions at scenic locations around our state.
Just recently, the Fort Monmouth Economic Revitalization Authority (FMERA) dove headfirst into a sales contract with the leading streaming agency, Netflix, for $55 million in an effort to launch an economic fortress upward of $850 million as Netflix Fort Monmouth. The project comes at the perfect time as large entertainment industries face impending pressure to drive content revenue.
Rajiv Dalal, Netflix’s Director of Content and Studio Affairs, sees versatilities in the landscape and crew base talent in New Jersey and is eager to bring an East Coast production hub to Netflix Fort Monmouth.
Netflix estimates the revenue between $7.4 billion and $8.9 billion in economic output over the next two decades for production and construction: 12 sound stages, ancillary production spaces, and backlots will become the new home to the production of TV series, features, and scripted originals. This economic revitalization will increase the value of the state of New Jersey over that period from $3.8 billion to $4.6 billion and generate a remarkable ripple effect. During the peak construction of Netflix Fort Monmouth, Netflix projects it will contribute to the opening of nearly 3,500 jobs. Once the studio operation is in full effect, it could contribute between 1,400 and 2,200 jobs annually.
New Jersey Gov. Phil Murphy is an essential advocate for reconstructing this army base, paving the way for Netflix Fort Monmouth to thrive. He announced that state officials approved the plans to redevelop the New Jersey army base over the course of several years and that the “transformative investment will serve as the cornerstone in our efforts to create a thriving industry from whole cloth,” further adding that the nearby Jersey Shore embraces “an entirely new ecosystem” of job openings, housing, hotels, and supplementary businesses and services.
This project can potentially leverage the state of New Jersey as a hub for Hollywood, emerging as a dominant leader in the television and film industries. With such expansive land just outside of a metropolitan location such as New York City, Netflix Fort Monmouth is a gold mine that piqued the interest of the giant streaming service. Netflix was also attracted to the creative sector and driven workforce that transpires in New Jersey that Netflix Fort Monmouth will further refine.
There is still a long process that awaits before this project starts moving in full effect with the construction of studios amidst the property. Netflix is given a 36-month period to acquire local approval before officially closing on the property. The final site design will be an impending work in progress as it strives to preserve some of the fort’s historical structures like monuments, flag grounds, and parade grounds. It is anticipated to be a grand and unique project that will generate a lively and revitalized feel to the Garden State.
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