Netflix Plans $900M Facility At Former New Jersey Army Base – Netflix announced on Wednesday that it intends to build a $900 million, state-of-the-art production facility at a former Army base on the Jersey Shore, creating thousands of jobs. The business will pay $55 million for a 292-acre plot on the former Fort Monmouth military base near Eatontown and Oceanport. The California-based company intends to invest an extra $848 million in 12 sound stages and other film industry-related uses.
“We’re thrilled to continue and expand our significant investment in New Jersey and North America,” said Ted Sarandos, the company’s Co-CEO and chief content officer. “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.” The announcement was made Wednesday evening, following a vote by the Fort Monmouth Economic Revitalization Authority to accept Netflix’s bid over three competing offers.
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“This transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth,” said New Jersey Gov. Phil Murphy, a Democrat. “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.” He also said the project will create new housing, hotel and film-related businesses in the area, which has suffered economically since the Army closed the base in 2011. The project is due to be completed in two phases over the course of several years.
The first phase will involve the building of dozens of sound stages ranging in size from 15,000 to 40,000 square feet each (around 1,400 to 3,700 square meters). Additional work may comprise office space, production services buildings, and related studio space, with the possibility of incorporating consumer-focused components such as retail applications. “We are thrilled by the promise this Netflix project will deliver,” said Michele Siekerka, president and CEO of the New Jersey Business and Industry Association.
“Jobs and innovation are at the heart of this Netflix-New Jersey partnership, just as they were throughout Fort Monmouth’s rich history.” The plan still needs numerous levels of approvals from local and state officials. Another TV and film production studio is set to be built in New Jersey on the site of a now-demolished public housing complex in Newark. The $125 million, 12-acres studio will be anchored by global entertainment provider Lionsgate, officials announced in May.
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