Netflix announces plans to build $900M production facility at former Army base in New Jersey

Netflix, the giant American streaming service company, decided to build a production facility at a former Fort Monmouth Army base in New Jersey.

The state-of-the-art establishment is expected to create thousands of job opportunities for interested candidates. The 292-acre site itself has cost the company a fortune of $55M.

Netflix announced this decision on Wednesday evening, followed by a vote by the Fort Monmouth Economic Revitalisation Authority to accept the streaming-company’s bid over other offers.


Ted Sarandos, the company’s co-CEO and chief content officer said, “We’re thrilled to continue and expand our significant investment in New Jersey and North America.” He further expressed his belief about the studio’s potential in boosting the local and state economy with thousands of job opportunities and billions in economic output.

Phil Murphy, the governor of New Jersey, shared this belief as he stated, “This transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth.”



The project will be executed in two phases. The first phase will oversee the construction of sound stages ranging from 15,000 to 40,000 square feet. That alone will cost Netflix an additional $848M. This will be followed by the construction of office spaces, services building and related studio spaces.

The plan still needs a lot of approvals from local and state officials and is expected to be completed over the course of several years.

This won’t be the only TV and film production studio that New Jersey will be hosting. Another project, which is set to be built in Newark on the site of a demolished public housing society, was announced in May by global entertainment company Lionsgate.

Phil Murphy expressed his hopes about the state as he said, “As a result of nearly a billion dollars in film production spending, New Jersey will further solidify its status as an emerging national leader in the television and film industries.”

FAQs:

1. Where will Netflix build their production facility?
   Netflix will build their production facility at former Fort Monmouth Army Base in the state of New Jersey.
2. How long will it take for Netflix to build their production facility?
   The production facility will be built in two stages over the course of several years.