Home Production studio Netflix moves closer to completing its Fort Monmouth production studio

Netflix moves closer to completing its Fort Monmouth production studio


General Business

The New York Times announced today that Netflix has been selected as the highest bidder for the 292-acre mega parcel in Fort Monmouth. It wasn’t revealed how much the streaming service and production company bid for the property at the former Army base, located in the boroughs of Oceanport and Eatontown, but it was the one of four entities responding to the Fort Monmouth Economic Revitalization Authority’s Request for Proposal for Purchase (RFOTP).

Other bidders included Extell Acquisitions, a subsidiary of Extell Development; RDR Partners, which includes Russo Development, Dinallo Construction Co. and River Development; and development of mega plots.

In a released statement, Netflix commented, “If our plans are approved, we hope to build a facility that will create significant economic impact and job growth for New Jersey, a state loaded with creative talent and technical expertise. .”

In his own statement, Governor Phil Murphy commented, “We are thrilled to hear that Netflix wants to establish a serious presence in New Jersey and look forward to working with [the company] and the rest of the industry to create well-paying jobs and drive economic growth across the state.

The news marks New Jersey’s ongoing efforts to attract the film production industry.

Recently, Togus Urban Renewal awarded Turner Construction Company a contract to build 1888 Studios, a 1.5 million square foot film and television studio in Bayonne. The 17-building campus will include sound stage studios, flexible support/office spaces, and workshops/mills in which sets will be constructed and stored. It is expected that more than 2,000 construction workers will contribute to the construction of the studio, which will have around 2,000 to 3,000 full-time employees when completed.

Meanwhile, Great Point Studios, a studio investment/management firm specializing in film and television infrastructure, and the New Jersey Performing Arts Center (NJPAC) announced a partnership this year with global content leader Lionsgate to build a major $125 million production facility in Newark. The modern, 300,000 square foot, full-service entertainment complex is expected to create more than 600 new long-term jobs and generate more than $800 million in annual economic impact for Newark and New Jersey.

Additionally, California-based MBS Group, a large studio production and consulting services company, is interested in purchasing property and building multiple studios in West Orange.

If Netflix takes over ownership of Fort Monmouth, it will be the company’s second-largest production facility after a resort in New Mexico.

In a June 2 Editorial published on NJ.com, Michele Siekerka, president and CEO of the New Jersey Business & Industry Association, said the Netflix studio could create economic opportunities for communities surrounding Fort Monmouth and the entire state. “Netflix in New Jersey offers the prospect of thousands of jobs for the future, an abundance of workforce development opportunities, and annual local investment that creates sustained economic activity,” Siekerka wrote.

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