Netflix Approved To Open Massive NJ Film Studio: How It Will Look

EATONTOWN, NJ — It's official: Netflix is coming to New Jersey, where the streaming giant will open one of their biggest film studios in the world at Fort Monmouth, a long-closed U.S. Army base in Monmouth County.

In a 5 p.m. meeting Wednesday, the board members of the Fort Monmouth Economic Development Authority unanimously approved to sell 292 acres of the old Army base to the streaming giant.

Netflix will pay $55 million for the land, which includes $3 million to relocate the FMERA offices, which currently sit on that parcel.

Gov. Phil Murphy praised the deal Wednesday night. The governor said Netflix will open a "state-of-the-art East Coast production facility, transforming a property that has been largely vacant for more than a decade into an economic engine."

It was Murphy who first wooed Netflix to come to New Jersey two years ago, promising tax credits for movie and TV shows filmed in the state. Murphy is trying to grow New Jersey's film/television industry.

"New Jersey will further solidify its status as an emerging national leader in the television and film industries," said Murphy Wednesday night. "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.”

The 292-acre lot spans the towns of Eatontown and Oceanport. Netflix says it will open blocks of studio spaces, similar to old Hollywood, and said they will bring 1,500 permanent production jobs and more than 3,500 construction-related jobs. Netflix plans to build 12 state-of-the-art soundstages.

Just hours before the sale was approved, Netflix’s Director of Content & Studio Affairs Rajiv Dalal told NJ Advance Media their New Jersey purchase will be Netflix's largest studio space, and rival their 300-acre production facility in Albuquerque, New Mexico.

“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," said Ted Sarandos, Netflix Co-CEO and Chief Content Officer.

Netflix’s plans will be completed in two phases over the next several years: The first phase of the project will include the construction of the 12 soundstages, which will range in size from 15,000 square feet to 40,000 square feet.

After those are built, Netflix said they may then build office space, production services buildings, mill space and studio backlots, "with the potential for consumer-facing components, such as retail and consumer experiences."

In total, Netflix said they plan to invest $850 million into building the New Jersey film studio.

Fort Monmouth is a 1,126-acre former U.S. Army post that straddles the towns of Oceanport, Eatontown and Tinton Falls. It was used by the U.S. Army for years, but officially closed in 2011.

Ever since, acres and acres of land at Fort Monmouth have sat empty and abandoned. Actual tumbleweeds could be seen blowing through the property.

“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," said Oceanport Mayor Jay Coffey, who sits in the FMERA board and voted "yes" Wednesday night. "Netflix’s arrival allows for an incredibly advantageous and creative re-use of this property."

Eatontown Mayor Anthony Talerico, Jr., who also sits on the board and voted to approve the sale, went even farther:

"This 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," he said.

It was Murphy who initially wooed Netflix to come to New Jersey: In April of 2021 he sent a letter to the studio heads at Netflix, Disney and Warner Bros. trying to lure them with tax breaks to make movies and TV shows in the Garden State. In that letter, Murphy specifically criticized Georgia's voter ID laws and said voter ID should factor into their decision to leave Georgia and come to New Jersey.

“I’ve watched the recent decisions coming from the Georgia State House with disappointment. Restricting the right to vote is more than just wrong, it’s un-American,” Murphy wrote in his letter, obtained by The Hollywood Reporter. "Our new $14.5 billion economic incentive package makes the Garden State just as competitive as Georgia to attract film and television production businesses. One thing is clear: when it comes to social policies, corporate responsibility, and — not to be overlooked — economic opportunity, New Jersey is now a top contender for your business.”

Murphy offered the film studios tax credits equal to what Georgia currently offers: Tax credits up to 30 percent of production costs and a 40-percent tax credit for any studio that opens brick-and-mortar offices, according to the Wall Street Journal.

This summer, before the sale was approved, a small but vocal group of Monmouth County residents surfaced, criticizing the plan. They say they are skeptical Netflix will bring permanent jobs (they say Netflix will pick up and relocate if and when another state offers them more lucrative tax incentives), and they criticized the tax breaks from the Murphy administration.