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The forward momentum of the planned Netflix production hub at Fort Monmouth continued during a Nov. 3 signing ceremony in Oceanport.
Flanked by lawmakers and officials from the state, county and local levels as well as labor representatives and Netflix officials, including co-CEO Ted Sarandos, Gov. Phil Murphy approved the recent Fort Monmouth Economic Revitalization Authority (FMERA) meeting minutes, which allows the Netflix project to continue moving forward, while also paving the way for a new affordable housing component at Fort Monmouth.
NJBIZ reported about that meeting Oct. 31, in which FMERA’s board approved the transmittal of proposed Plan Amendment #20 – sending the amendment to host municipalities for consideration and public comment and paving the way for the development by moving the process to the public comment and review phase.
Nearly one year ago, Netflix was selected as the winning bidder for Fort Monmouth’s “Mega Parcel.” The streaming giant will pay $55 million for the land, along with plans to commit nearly $850 million in capital investments to develop a state-of-the-art production facility on a 292-acre parcel that spans Oceanport and Eatontown.
This East Coast production hub will include 12 soundstages – comprised of over 500,000 square feet of new development – that will lead to the creation of thousands of largely union jobs.
Since FMERA authorized the redevelopment agreement in December 2022, officials say Netflix has continued working to obtain the additional approvals necessary to make the project a reality.
On Friday, Murphy said the approval of the FMERA meeting minutes was another important step in the process.
Murphy opened his remarks by shouting out the efforts of FMERA for breathing life into and spearheading redevelopment at the shuttered fort, pointing to a slew of new businesses that have opened.
“We are gathered to celebrate a truly revolutionary investment in – not only Fort Monmouth’s future – but our entire state’s future,” said Murphy. “Over the next several years, in partnership with our friends at Netflix, we are going to transform this historic campus into a state-of-the-art film and television production hub.”
When complete, Murphy said that the project will mark the state’s largest production facility in its history.
“So, now more than ever, New Jersey is ready for its closeup,” Murphy added.
He stressed that they are trying to move this process along and accelerate this project as quickly as possible.
“That simply is because our state’s families and businesses should not have to wait one more moment than they have to – to access the new jobs and opportunities that will come with this,” said Murphy. “That goes for every corner of New Jersey – but especially right here in Monmouth County.”
‘An absolute windfall’
Murphy stressed this campus will no longer be a painful reminder of economic decline and disinvestment.
“Instead, Fort Monmouth now stands as a symbol of renewal and revived hope,” said Murphy. “With this facility, many of our hard-working and talented residents will have the opportunity to participate in the film and television industry right here in our state while local businesses will benefit from an increase in customers.”
Sarandos noted that this was a coming-home moment, because he was born at Monmouth County Medical Center and has family roots in the Garden State.
The Netflix co-CEO thanked the governor and his team, as well as lawmakers and other officials, for their support in helping to move the project forward quickly — acknowledging there was still much to do.
“It really does take a village everywhere you go – and we definitely have found that here in New Jersey,” said Sarandos. “I’m extremely proud of our investment in New Jersey. I’m thrilled to deepen our relationship with this community through this project. Netflix Studios Fort Monmouth will drive significant economic growth and create meaningful job opportunities for people in New Jersey while boosting the vibrant production ecosystem here in the state where the modern film industry was born.”
Sarandos said that Netflix’s goal for the production hub was to benefit everyone in the area and to produce world-class, high-quality productions right here in the Garden State.
“I hope one day you will see ‘Filmed in New Jersey’ on your favorite Netflix show or film,” said Sarandos. “While we still have a whole lot of work to do, we’re excited to continue partnering with Gov. Murphy, local officials, and the community as we work to transform this historic space into a world-class production facility.”
Power 50
Fort Monmouth Economic Revitalization Authority Executive Director Kara Kopach was just named No. 10 on the 2023 Commercial Real Estate Power 50. Click here to see who else made this year’s list.
“A project of this scale has the potential not only to create thousands of jobs but will also result in significant investment on the Fort, and spur local development in support of the project,” said FMERA Executive Director Kara Kopach. “The magnitude of Netflix’s investment is an absolute windfall for our stakeholders and the State of New Jersey. We’re eager to see this come to fruition.”
“New Jersey is an ideal choice for studios looking to invest in large-scale production facilities,” said NJEDA Chief Executive Officer Tim Sullivan. “Gov. Murphy’s holistic approach to nurturing the state’s film industry is helping to ensure our communities are poised to attract leading studios like Netflix, who will revitalize a long vacant area of the former Fort and create good-paying union jobs and opportunities for small businesses.”
“Today is a great day for the state of New Jersey and its residents, with the construction of the Netflix project at the former Fort Monmouth facility,” said Thomas De Bartolo, president of Monmouth & Ocean Counties Building and Construction Trades Council. “This project will create good-paying union jobs and help the surrounding communities with an influx of economic development.”
(NJBIA) President and CEO Michele Siekerka said that jobs and innovation are at the heart of this New Jersey-Netflix partnership.
“Just as they were throughout Fort Monmouth’s rich history,” she said. “Netflix’s capital investments will result in future-proof production industry jobs that will help bolster our state’s economy and enhance our identity as a national go-to for both small and large productions. Netflix’s presence will also bring positive results for neighboring small businesses. We look forward to the first ‘Action!’ to take place at Fort Monmouth.”
President and CEO Tom Bracken said that the film industry is one of the key components of the future economy of the state.
“And we applaud Netflix for choosing New Jersey for this very significant project that will create jobs and economic development,” said Bracken. “The Chamber has backed this project from the start, and it is exciting to see it come to fruition. This will be a foundational component of our growing film industry.”
At a gaggle with reporters following the announcement and signing ceremony, Murphy stressed that this was a huge day.
“I just signed the letter which blesses the minute of the FMERA board decision to go forward with Netflix for their investment here,” Murphy told reporters. “It is a big day for the economy in Monmouth County and surrounding communities.”
Once state and local approvals are secured, the project is estimated to be completed in two phases over the course of several years.