Writer: Ryan Gandolfo
2 min read December 2022 — Netflix is coming to New Jersey, as the media-streaming company announced plans to build a new production facility at Fort Monmouth on Wednesday.
The state-of-the-art East Coast site will set up shop at the former Fort Monmouth campus of Monmouth county. The Fort Monmouth Economic Revitalization Authority (FMERA), the state agency responsible for redeveloping the fort which was shuttered by the U.S. Army in 2011, sold the 292-acre parcel for $55 million. The value added to the state economy from the facility is estimated to be between $3.8 billion to $4.6 billion over a 20-year period.
According to Netflix, the company is committed to $848 million in capital investments, which includes the development of 12 soundstages taking up around 500,000 square feet of space as well as other uses and community amenities. The project is expected to add 1,500 permanent jobs in the industry as well as 3,500 construction-related jobs.
In a press release on Netflix’s official website, Gov. Murphy noted that the development will help enhance the region as a place to do business, particularly in the entertainment industry. “This transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth,” said 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.”
New Jersey is positioning itself as an entertainment production hub, as the New Jersey Performing Arts Center announced a partnership with global entertainment company Lionsgate in May 2022. The partnership includes a facility dedicated to TV and film production, the first purpose-built studio in New Jersey for film, according to a press release from Lionsgate.
“Bringing a project of this magnitude into Newark is a monumental victory for our city,” said Newark Mayor Ras Baraka. “It will bring hundreds of new jobs, create new educational opportunities for our students, and invigorate the revitalization of the South Ward.”
In an interview with Invest:, Choose New Jersey President and CEO Wesley Mathews pointed out the state’s location and talent as one of the leading draws for companies. “New Jersey has everything from the Shore to the mountains, with New York City and Philadelphia at our doorstep. New Jersey is ideally suited for any worker, but hybrid workers will find that the accessibility the state offers is compelling. For families, we have the nation’s top K-12 public education system and a robust university, college, and community college system. Princeton has been ranked as the number-one university in the nation for more than a dozen years running. Rutgers, NJIT, and Stevens are leading national research universities. As the State of Innovation, we have the pedigree in pharmaceutical and life sciences, but also in film and TV, IT, logistics, and food, as well as new and burgeoning sectors like renewable energy and fintech. Innovation is in our DNA and we are doubling down on our past by investing in what we call a future-proof economy,” said Mathews.
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