Netflix plans to build a massive $900 million production center at the former NJ army base
Streaming giant Netflix will invest $905 million to turn a vacant military base in New Jersey into an East Coast production hub.
The bar, known for hit songs like “Stranger Things” and “Emily in Paris,” said it paid $55 million for the 292-acre Fort Monmouth base, located about 60 miles south of downtown.
In addition, the company plans to invest approximately $850 million in the community to develop its state-of-the-art production studio, which will include 12 soundstages.
“We believe the Netflix studio can boost the local and state economy with thousands of new jobs and billions in economic output, with the launch of a critical production system in New Jersey,” Ted Sarandos, Netflix co-CEO and chief content officer, said in announcing the deal Wednesday.
New Jersey Governor Phil Murphy said the arrival of Netflix would create more than 1,500 permanent production jobs in the region, as well as 3,500 construction jobs.
“This transformative investment will be a cornerstone of our efforts to create a thriving whole cloth industry,” said Murphy. “As a result of spending nearly a billion dollars on film production, New Jersey will solidify its position as an emerging national leader in the television and film industries.”
Murphy said the project will create new residential, hotel and film-related businesses in the area, which has suffered economically since the military closed the base in 2011.
The project is scheduled to be completed in two phases over several years.
The new facility adds to Netflix’s existing studios in Brooklyn, which open in 2021, as well as other North American studios in Georgia, California, New Mexico, British Columbia and Toronto.
“I think we definitely need a production center on the East Coast,” Rajeev Dalal, director of content and studio affairs at Netflix, told The Hollywood Reporter. “And given the talented crew base in New Jersey who worked on our titles in New York, but live in New Jersey, the multitude of wonderful backgrounds, the proximity to major metropolitan areas and the fact that we were able to get a large plot of land close to 300 acres. Those were the main decision drivers.” .
The Garden State was home to 725 productions and grossed a record $80 million last year, according to the state Film and Television Commission.
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