Netflix Celebrates Closing on 292 Acre Fort Monmouth Mega Parcel

Netflix today held a ceremony celebrating its official closing on the 292-acre Fort Monmouth Mega Parcel, finalizing a $55 million land sale for its new $1 billion East Coast production studio. Netflix is investing more than $1 billion to transform the former U.S. Army installation, which will feature 12 state-of-the-art soundstages totaling nearly 500,000 square feet, along with additional spaces dedicated to film production and community amenities. The closing took place on December 5, 2025.

Demolition on the site is underway and expected to take around 13 months, with the studio projected to open in 2028.

Gov. Phil Murphy called the project the most complex he has been involved with in his eight years as governor, namely due to the sheer scale of redeveloping a former military base.

The Fort Monmouth project has required extensive approvals from multiple government levels for zoning, environmental impact, tax agreements, traffic, and noise, plus complex site-specific issues like transforming a historic site into a modern, high-tech studio with soundproof buildings and public spaces.

Netflix Co-CEO Ted Sarandos thanked New Jersey and the many stakeholders who have helped bring the studio vision to fruition.

“Netflix is proud to invest in American innovation and the creative community,” Sarandos said. “We estimate that these studios will create thousands of jobs for New Jersey residents, billions of dollars in economic output, and many other cultural benefits to the region and state. Over the past four years, Netflix has contributed $125 billion to the US economy and hired more than 140,000 cast and crew members. And we’re excited to continue our investment in the US and New Jersey in the coming years.”

He added that Netflix is currently shooting two films in New Jersey that are employing more than 500 people.

“In 2024 alone, the New Jersey film industry set records by generating $833 billion in in-state spending, filming more than 500 productions and hiring more than 30,000 crew members,” said Gov.-elect Mikie Sherrill. She credited the industry’s surge in part to the state’s Film and Digital Media Tax Credit Program, which was reinstated in 2018. The program, which has been extended to 2049, offers tax credits to film and digital media productions of up to 40% for expenses incurred.

“As the birthplace of the motion picture industry, New Jersey couldn’t be more thrilled to welcome Netflix — a name synonymous with 21st century entertainment — to the Garden State,” Murphy said, adding that the studio further solidifies New Jersey’s reputation as a global leader in film and television production, attracting some of the world’s top filmmakers and creators to the state.

In 2022, Netflix first announced its plan to transform Fort Monmouth, a property that had been largely vacant for over a decade. The media company cited New Jersey’s top-notch crews, talent, and a vibrant creative sector as a driving force behind the decision.

Cleanout and demolition of the abandoned buildings at Fort Monmouth in Eatontown began in May. Netflix says that significant progress has been made each week, with work expected to continue into early 2026. In total, construction will remove a total of 100 former Army buildings while restoring and preserving eight for use on the studio campus.

Read the full story on New Jersey Business Magazine.