In a former Army base near the Jersey Shore, Netflix said it intends to erect a cutting-edge production complex that will cost more than $900 million and generate thousands of jobs. The 292 acre site on the former Fort Monmouth military post in Eatontown and Oceanport will be purchased by the subscription video streaming corporation for $55 million.
The California-based corporation intends to invest an additional $848 million in 12 sound stages and other film-related projects.
Ted Sarandos, the company’s co-CEO and chief content officer, said: ‘We’re excited to continue and extend our major commitment in New Jersey and North America. 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.’
The announcement was made Wednesday evening, following a vote by the Fort Monmouth Economic Revitalization Authority to accept Netflix’s bid over three competing offers.
Post Your Comments