Netflix Buys Decommissioned Army Base to Create $850 Million StudioNetflix plans to convert the former New Jersey Army base into a production facility.

Netflix is bringingHollywoodto New Jersey. The streaming giant just closed a $55 million deal to buy the former site of Fort Monmouth Army base. The company plans to build an $850 million studio on 300 acres encompassing portions of Eatontown and Oceanport.

According to theAsbury Park Press(应用程序),Netflixbid on the property two months ago and inked an agreement with the Fort Monmouth Economic Revitalization Authority Wednesday.

应用程序has more details:

In doing so, Netflix said it will invest upwards of $850 million to create one of the largest production facilities in the world, one with 12 sound stages, ancillary production spaces and back lots, similar in size and scope to its New Mexico studios. It will use the studios to produce high quality TV series and films, including originals. Production will also occasionally go on location at scenic backdrops around the state.

应用程序reports Netflix believes that over the next two decades, it could contribute up to $8.9 billion in revenue, adding almost $5 billion to the state's economy.

The paper quoted a statement issued byNew JerseyGovernor Phil Murphy, who said Netflix's "transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth."

"As a result of nearly a billion dollars in film production spending," Gov. Murphy continued, "New Jersey will further solidify its status as an emerging national leader in the television and film industries."

Netflix co-CEOTed Sarandossaid in a statement that the streamer is "thrilled to continue and expand our significant investment in New Jersey and North America."

“我们认为Netflix工作室可以提高当地的一个nd state economy with thousands of new jobs and billions in economic output," Sarandos said, "while sparking a vibrant production ecosystem in New Jersey."

TheAsbury Park Pressnotes thatNetflixhas a way to go before it finally closes the deal, including three years to finish due diligence and obtain various approvals from the affected townships.