Netflix makes it official at Fort Monmouth

The basics:

• Netflix finalizes $55M land deal for 292 acres at Fort Monmouth
• $1B project will include 12 soundstages and nearly 500,000 square feet of space
• Studio campus is expected to generate thousands of jobs and long-term economic impact
• State, county and local leaders celebrate the project milestone 

A landmark redevelopment at Fort Monmouth is advancing, as Netflix has completed the land closing needed for its planned film and television production campus at the former Army base. While the $55 million deal for the streaming and production giant to take control of a 292-acre Mega Parcel officially closed in December, a celebration to mark the milestone was held Jan. 12 at Park Loft in Oceanport.

It featured Netflix officials, government leaders from all levels and key project stakeholders, including Netflix co-CEO Ted Sarandos, then-Gov. Phil Murphy and First Lady Tammy Murphy, and – at that point – Gov.-elect Mikie Sherrill.

“We first announced our plans to transform Fort Monmouth back in 2022,” said Sarandos. “It is incredible to think about how what started as an idea is on its way to becoming a reality – a state-of-the-art production facility that will bring new jobs and economic opportunities to New Jersey.”

The $1 billion project will feature 12 cutting-edge soundstages totaling nearly 500,000 square feet, along with additional areas dedicated to supporting film uses and a range of community amenities.

This past spring, a groundbreaking kicked off demolition for the project.

“With construction already underway at Fort Monmouth, Netflix Studios is no longer a promise – it’s a reality taking shape in the heart of Monmouth County,” said Phil Murphy. “This project represents the transformation of a long-dormant site into a world-class creative campus that will generate thousands of jobs, spark new businesses, and anchor New Jersey’s film and television industry for decades to come.

“Netflix’s investment affirms that the birthplace of film is where its future is being built once again.”

Working together

“The progress and momentum we are seeing with the Netflix Studios Fort Monmouth project is a clear sign that New Jersey has become a place where world-class stories will be told for years to come, making our state a permanent cornerstone of the film and television ecosystem,” said Tammy Murphy. “I am thrilled to see this industry expand, support skilled workers, local businesses, and creative talent at every level, and I look forward to both the art and economic growth that will come out of this exciting project.”

Sarandos added, “This project is also a great example of what real cooperation looks like. Over the last few years, we’ve worked with everyone from the Trump administration to the US Army Corps of Engineers to the Fire Departments in Eatontown and Oceanport.”

This project is also a great example of what real cooperation looks like.
– Ted Sarandos, Netflix co-CEO

Phil Murphy reflected on the process to get to this point, and how meaningful it will be for Fort Monmouth, Monmouth County and the state.

“The closing actually took place last month. I think that’s a great statement – that both Team Netflix and Team Jersey were focused first and foremost on the work product,” said Murphy. “And we said, we can celebrate this sometime down the road. So, here we are, over a month after the fact. And part of the reason that both Ted wanted to do it now, and I and our team wanted to do it now.

“We wanted to have my successor standing right besides us. How cool is it that we have both the 56th and 57th governor of the great State of New Jersey,” said Murphy, as he introduced Sherrill.

“Gov. Murphy, thank you. First Lady Tammy Murphy, thank you. Your vision here was so instrumental, and it is amazing that we’ve gone from those forlorn days to such an incredibly bright future,” said Sherrill. “Ted, I am so looking forward to working with you, and as the governor was saying, that’s why we really wanted this today.”

It all started here

She also thanked the county and local officials for their leadership on this project.

“When we say – New Jersey Makes, The World Takes – what we’re really talking about is just generations of fantastic innovation that our state has truly been responsible for,” said Sherrill. “And it is so fitting that the next move here in innovation is with the film industry – given that it all started in New Jersey.”

Sherrill spoke about the state’s rich film heritage and legacy – as well as its workforce – and the boom over the last few years. Highlights include record production spending in 2024, as well as the filming of over 500 productions and hiring of over 30,000 crew members in that year.

“That is what this industry is bringing to the State of New Jersey,” said Sherrill, referencing the importance of the expanded tax credit program as well as the unique opportunity of this Netflix project and the broader film industry to provide job opportunities and economic impact.

“This is an amazing example of what can happen when industry and labor – and county government and state government and local government – all come together with a vision in making sure that we are really impacting the future for our families,” said Sherrill about the Fort Monmouth project. “As your next governor, I am going to support that progress. I am so excited.”

How it’s going

As he gave remarks, Monmouth County Commissioner Director Thomas Arnone said when he began serving on the board of county commissioners his goal was to make Monmouth County the top destination in New Jersey.

“And today, I can honestly say, whatever happens from here doesn’t matter. It happened. It happened,” said Arnone, noting the negotiations – and many partners – that led to this milestone. “At the end of the day, the ultimate goal comes to where we are today.”

Arnone credited Gov. Murphy for his support and efforts to bring this project to the shuttered base — once the heartbeat of the county’s economic activity.

“Think about where we are today and where we were. For many days, we were coming up here talking about what was going to be, what we hoped would be. Well, today it is,” said Arnone. “Today, it’s here. All you have to do is go outside there – see all the concrete trucks out there, knocking buildings down, and taking them all down.

“And we’re seeing what Monmouth County can do.”

Fort Monmouth’s next chapter

In his remarks, Eatontown Mayor Anthony Talerico Jr., cited collaboration at all levels of government, and acknowledged the Fort Monmouth Economic Revitalization Authority (FMERA) team, led by Kara Kopach, which played an instrumental role in this process. And he talked about working with Netflix up to this point.

“The individuals at Netflix, with whom I’ve been fortunate to meet and form partnerships and genuine friendships, have set the groundwork for their presence in the area,” said Talerico. “I appreciate the openness and the spirit of cooperation we’ve seen. Eatontown stands ready and excited to continue our partnership.

“To Ted and your visionary team, thank you for your commitment and investment in the region involving Eatontown. I also believe the success here has to do with the strong local relationship shared between Eatontown and Oceanport.”

Oceanport Mayor Thomas Tvrdik echoed those sentiments. The project will span Oceanport and Eatontown.

“Today is truly a historic moment, not just for Oceanport, but for Eatontown, Monmouth County, and the great State of New Jersey,” said Tvrdik. “We are standing on the ground that has meant many things over decades. Fort Monmouth served our nation with honor, and today it begins its next chapter – one rooted in creativity, opportunity and economic growth.”

“Your decision to invest here speaks volumes,” he continued, thanking Netflix for choosing this location for this major production hub. “You saw the potential in this site, in this county, and in our community. On behalf of the residents of Oceanport, thank you for choosing us.

“We’re incredibly proud to welcome Netflix. We look forward to a long and successful partnership.”