Netflix Signs 10-year Studio Partner Deal in New Jersey

During a recent meeting, the New Jersey Economic Development Authority (NJEDA) board approved Netflix as a Studio Partner. This designation comes with a commitment from Netflix to utilize its Fort Monmouth facility for at least a decade. The agreement also grants the company access to enhanced benefits and incentives offered by the state's Film and Digital Media Tax Credit program.

Project Development

The project, in collaboration with the Fort Monmouth Economic Revitalization Authority (FMERA), involves the acquisition of 292 acres at the former Fort Monmouth site. Netflix plans to construct a state-of-the-art studio production campus spanning over 1 million square feet. This development will include soundstages, backlot areas, an office building, and other supporting facilities. The studio aims to open its doors in 2028.

Government and Stakeholder Responses

Government officials and stakeholders have praised Netflix's investment in New Jersey's film industry. Governor Phil Murphy hailed the project for its potential to create employment opportunities, support local businesses, and boost the regional economy. NJEDA CEO Tim Sullivan and Jon Crowley from the New Jersey Motion Picture and Television Commission also commended Netflix's commitment to the state's film sector.

Legislative Support

State legislators from both parties have expressed support for the project, emphasizing its economic significance and job creation potential. Senators Vin Gopal and Declan O’Scanlon lauded the partnership between Netflix and local communities, highlighting the benefits it brings to Monmouth County and beyond.

Local Community Response

Local mayors have welcomed Netflix's presence, recognizing it as a pivotal step in the revitalization of the Fort Monmouth area. Oceanport Mayor Thomas Tvrdik and Eatontown Mayor Anthony Talerico expressed excitement about the project's potential to rejuvenate the region and bring about positive economic and social changes.

Netflix's designation as a Studio Partner by the NJEDA marks a significant milestone in the development of a state-of-the-art production studio campus at Fort Monmouth, with widespread support from government officials, legislators, and local communities.