Netflix wants to turn an old Army base into a huge production hub

A former Army base in New Jersey called Fort Monmouth may one day be a major production hub for future Netflix originals. The company has revealed intentions to bid on the property, though it hasn’t revealed how much it is willing to pay for the nearly century-old location. Fort Monmouth was officially shut down by the US government in 2011.

Netflix revealed its intention to bid on a 289-acre portion of Fort Monmouth last week, according to the New York Times. Multiple developers have offered more than $100 million for a much smaller portion of the former Army base, which is appraised at a value of $54 million. Those deals didn’t go through, but the figure does shed light on how much Netflix may end up paying for the acreage — assuming its bid is accepted, of course.

New Jersey Governor Phil Murphy has paved the way for large companies like Netflix to set up film production hubs in the state in the form of tax credits. Netflix revealed intentions to modernize the location as a state-of-the-art facility for filming movies, as well as post-production work.

This won’t be Netflix’s first production hub — the company previously purchased its largest production facility, ABQ Studios, in New Mexico. Assuming the streaming company acquires the New Jersey property, the production studio it builds there would become its second-largest location.

In a statement of his own, New Jersey Governor Murphy expressed ample excitement about Netflix’s plan to bid on Fort Monmouth. Among other things, establishing the new production hub would bring a large number of job opportunities in New Jersey. For reference, the streaming company said in 2018 that its ABQ Studios hub would result in up to 1,000 jobs annually in New Mexico.