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A vacant Army base in New Jersey will receive $905 million from streaming giant Netflix to become its East Coast production hub.

The 292-acre Fort Monmouth base, which is located about 60 miles south of Midtown, was purchased by the streamer, known for hits like “Stranger Things” and “Emily in Paris,” for $55 million, according to the company.

Additionally, the business intends to contribute close to $850 million to the neighborhood in order to build the cutting-edge production studio, which will have 12 soundstages.

In announcing the agreement on Wednesday, Ted Sarandos, co-CEO and chief content officer of Netflix, said, “We believe a Netflix studio can boost the local and state economy with thousands of new jobs and billions in economic output, while sparking a vibrant production ecosystem in New Jersey.”

Gov. Phil Murphy of New Jersey claimed that 3,500 construction jobs in addition to more than 1,500 permanent production jobs will be generated by Netflix’s arrival in the state.
According to Murphy, “This transformative investment will serve as a cornerstone in our efforts to build a thriving industry from scratch.” New Jersey’s position as a rising national leader in the television and film industries will be further cemented as a result of nearly a billion dollars in film production spending.

In the area, which has experienced economic hardship since the Army closed the base in 2011, Murphy claimed that the project will generate new housing, hotel, and film-related businesses.

Over the course of several years, the project is expected to be finished in two phases.

The new building complements Netflix’s current Brooklyn studios, which the streaming service opened in 2021, as well as its other North American studios in Toronto, Georgia, California, New Mexico, and British Columbia.

According to Netflix director of content and studio affairs Rajiv Dalal, “I think we definitely needed an East Coast production hub.” “And given the talented crew base in New Jersey that has worked on our titles in New York but lives in New Jersey, the abundance of beautiful natural settings, the proximity to significant urban centers, and the fact that we were able to secure a sizable plot of land close to 300 acres. Those were the main deciding factors.
According to the state’s Film and Television Commission, 725 productions were based in the Garden State last year, which also saw record-breaking revenue of $80 million.

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