Details Of New Netflix Studios Monmouth At Former New Jersey Army Base Unveiled: $850 Million Investment, 12 Sound Stages
21.12.2022 - 23:11
/ deadline.com
Netflix will pay $55 million for a big parcel of land in New Jersey, then invest $850 million to build a state-of-the-art production studio, according to details of the streamer’s bid.
The Fort Monmouth Economic Revitalization Authority is expected to approve the project at a meeting this evening.
The 289-acre site of Netflix Studios Fort Monmouth, a former army base, would be one of the largest fully integrated production facilities in the world and a very close second to Netflix’s biggest U.S. production hub in Albuquerque, New Mexico, which totals 300 acres.
NJ Governor Phil Murphy has a veto period, but the pol has been pushing very hard to bring production to the Garden State with tax credits and other incentives.
Some three to six months of due diligence by county and state authorities would follow before work on the site could begin on the new studio, with 12 sound stages, back lots and production support.
The project comes at a time of pressure on big entertainment companies to rein in content spending. But studio space remains a hot commodity with demand for modern stages outpacing supply, especially in the New York metro and tristate area.
Netflix opened a studio in Bushwick, Brooklyn last year. It leased stages in Atlanta, Toronto, Vancouver and across California and internationally in London, Tokyo, Seoul, and Madrid. “We don’t anticipate a reduction in filming around the world,” Netflix Director of Content & Studio Affairs Rajiv Dalal tells Deadline. “Given our content slate, we still have enough titles to be shooting in all of these locations.”
The attraction of Fort Monmouth was a combination of size and location. The streamer cited New Jersey’s top-notch crews and talent and said it’s had good