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During a busy May 8 meeting, the New Jersey Economic Development Authority (NJEDA) board voted to designate Netflix as a Studio Partner.

Under the agreement, Netflix commits to occupy its Fort Monmouth facility for at least 10 years. It also makes the company eligible for expanded benefits and incentives through the state’s Film and Digital Media Tax Credit program.

As NJBIZ has reported, the Garden State Netflix project continues to take shape and go through the approval process. Last January, Netflix and the Fort Monmouth Economic Revitalization Authority (FMERA) entered a Purchase and Sale and Redevelopment Agreement. Acquiring 292 acres at the former Fort Monmouth, the streaming service plans to develop over 1 million square feet of studio production and support space.

The state-of-the-art production studio campus plans to open in 2028. It will include 12 soundstages, backlot areas, an office building and other production support facilities. More than 280,000 square feet of production space is designated a Studio Partner Facility by Netflix.

“Today takes us one step closer to making New Jersey an international center for studio production and Netflix is excited to be a part of it,” said Netflix Co-CEO Ted Sarandos.

“With Netflix leading the way, the creation of new, world-class studios has solidified New Jersey’s standing as a national leader in film and television production,” said Gov. Phil Murphy. “These substantial investments will create thousands of good-paying jobs, support small businesses and vendors, and stimulate the regional economy.”

Credit where credit is due

NJEDA Chief Executive Officer Tim Sullivan said that Netflix’s commitment to build a world-class studio at Fort Monmouth exemplifies the Garden State’s thriving film production sector.

“With the advantages of a generous Film and Digital Media Tax Credit program and today’s designation, Netflix is poised to grow its presence in New Jersey – revitalizing local communities and providing countless exciting career opportunities,” said Sullivan.

That sentiment was echoed by Jon Crowley, the new executive director of the New Jersey Motion Picture and Television Commission.

“Netflix’s decision to build a top-tier production studio in New Jersey symbolizes the momentum of the state’s film industry, attracting more studios to the breadth of local talent, diverse filming locations, and generous incentives that the Garden State offers,” said Crowley. “Today’s designation will allow Netflix to access increased benefits under the successful Film and Digital Media Tax Credit program, and our continued to partnership over the next decade will bolster New Jersey’s standing as a hub of media production.”

‘This is historic’

State and local lawmakers representing the area – from both sides of the aisle – applauded the news.

“New Jersey will soon be home to one of the most dynamic film studios in the world, and its work will be driven by direct partnerships with local businesses and communities,” said Sen. Vin Gopal, D-11th District.

“This is an extremely exciting next step and a massive commitment to the investment of people and production facilities here in Monmouth County,” said Sen. Declan O’Scanlon, R-13th District. “It will bring countless jobs to the local community and economy – not to mention expanding upon New Jersey’s film legacy. I’m grateful to see Netflix making this commitment to help the next stages of the innovative revitalization of Fort Monmouth. This is historic. I commend the Murphy administration, particularly the EDA, for a job well done.”

In expressing their excitement, local mayors also noted the efforts of FMERA Executive Director Kara Kopach and her team to bring about this transformative economic and social revitalization of the abandoned military facility.

Filling a void

Oceanport Mayor Thomas Tvrdik described the announcement as a momentous event in the continued redevelopment of the Fort Monmouth property.

“That a little town like Oceanport will be home to part of Netflix’s East Coast operations center is simply incomprehensible for someone like me who has spent his entire life in this town,” said Tvrdik. “I, along with Oceanport’s entire Borough Council, look forward to the opportunities that Netflix will bring to Oceanport, Eatontown, Monmouth County, and the State of New Jersey. “

Eatontown Mayor Anthony Talerico said his town is excited to welcome Netflix to the community. He noted that Fort Monmouth’s closure left an enormous void in the region.

“The size and scope of the Netflix project will bring enormous benefits to and revitalize the area,” said Talerico. “Working together with Mayor Tvrdik of Oceanport, Eatontown is happy to begin the next phase of negotiations with Netflix and move this project forward.”

Creating opportunity

Meanwhile, in Bayonne:

The highly anticipated 1888 Studios project in Bayonne has been designated as a Film-Lease Partner Facility. Click here to get the details on this project.

This announcement, along with the other major movie production news for Bayonne’s 1888 Studios project, were applauded by the state’s leading business groups.

“Today’s announcement has the potential to be a game changer that will catapult New Jersey to a new place as an East Coast leader in the film and production industry,” New Jersey Chamber of Commerce President and CEO Tom Bracken told NJBIZ in a statement. “It creates jobs and boosts our economy, both important in this environment. We can assume the economics of these deals will be forthcoming, which will give us a better picture of exactly how this will affect the return on our investment. We congratulate Gov. Phil Murphy and the New Jersey Economic Development Authority on this important milestone.”

“Today’s approvals by NJEDA are major steps in delivering thousands of jobs to New Jersey and further galvanizing the state’s growing film and television industry,” said New Jersey Business & Industry Association (NJBIA) Chief Government Affairs Officer Christopher Emigholz. “We are excited for the opportunities of new workforce development programming and a flurry of economic activity that will play a starring role in transforming the economic activity around Fort Monmouth and Bayonne and their surrounding areas.”

“The expanded Film and Digital Media Tax Credit program, coupled with strong state support, makes a compelling case for the return of major production companies to New Jersey – the birthplace of film,” said Murphy.