Netflix to build ‘state-of-the-art’ US production facility | VOD | News | Rapid TV News
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In a move described by local politicians as totally fitting for what they say is the birthplace of the modern film industry, Netflix has revealed plans to develop an East Coast production facility on the former Fort Monmouth campus in Monmouth County, New Jersey.
Netflix NJ studio 3Jan2023
The subscription video-on-demand (SVOD) leader plans to commit $848 million in capital investments to develop the more than 292-acre parcel of land into 12 soundstages totalling nearly 500,000 square feet of new development, with the remainder of the property slated for redevelopment with supporting film uses and several community amenities. The project is estimated to create more than 1,500 permanent production jobs and more than 3,500 construction-related jobs in New Jersey.

Netflix’s plans for the integrated film studio campus will be completed in two phases over the course of several years. The first phase of the project will include the construction of 12 soundstages that will range in size from 15,000 square feet to 40,000 square feet each with a minimum total buildout of 180,000 square feet and a maximum buildout of 480,000 square feet.

Additional and ancillary improvements may include office space, production services buildings, mill space, and studio backlots, among other uses customary to the film industry, with the potential for consumer-facing components, such as retail and consumer experiences.

“We're thrilled to continue and expand our significant investment 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," said Ted Sarandos, Netflix co-CEO and chief content officer.

Netflix will pay $55 million for the parcel and the development has now entered into a due diligence period and local approvals process before being finalised.