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Netflix has officially begun construction on a new production campus at Fort Monmouth. The groundbreaking ceremony took place on Tuesday (May 13), with Netflix executives and New Jersey officials, including Governor Phil Murphy, in attendance. The project aims to transform the former military base, which spans 289 acres, into a state-of-the-art film and television studio.
The studio will feature 12 soundstages totaling nearly 500,000 square feet, along with production and office buildings, a cafeteria, retail shops, studio trailer parks, a helipad, a theater, a hotel, visitor attractions, and water tanks for film production. Governor Murphy expressed strong support for the project, envisioning it as a step toward making New Jersey the "Hollywood of the East."
The construction will occur in two phases, with the first phase focusing on building a campus for actors and production crews, along with four soundstages on the site’s 29-acre McAfee Zone. The second phase, which includes the remaining eight soundstages, is scheduled for review by Eatontown’s planning board in August.
The project, estimated at $903 million, is expected to bring significant economic benefits to the region. According to Construction Review Online, it could generate between $3.8 billion and $4.6 billion for the New Jersey economy over the next 20 years. Additionally, the construction phase is projected to create up to 3,500 jobs, with approximately 1,400 jobs available once the studio is operational.
Netflix has secured a $150 million pool of tax incentives and a potential 40% tax credit in exchange for operating the studio in New Jersey for at least 10 years. The project has undergone a lengthy approval process, including amendments to zoning regulations by the Fort Monmouth Economic Revitalization Authority.