Netflix plans to build a $903 million production studio campus at the former Fort Monmouth military base in Monmouth County, New Jersey, set to open in 2028. The project has been approved for up to $387 million in tax credits under the state’s Aspire program, part of the 2020 Economic Recovery Act. The studio will create union construction jobs and long-term positions, enhancing New Jersey’s status in film and television production.

Governor Phil Murphy’s efforts to make New Jersey a U.S. movie/TV production hub are among his most lasting legacies as his term ends in 2026. He revived the state’s Film and Digital Media Tax Credit, offering a 30-percent reduction in state taxes for movies filmed or produced in New Jersey. Companies that open a movie studio in the state and keep it open for ten years qualify for an extra 40-percent tax subsidy. This means Netflix will benefit from a 70-percent tax break on all future movies and TV shows made in New Jersey.

The Economic Development Authority (EDA) has also approved the 1888 Studios project in Bayonne for the Aspire tax credit program, and Netflix has been designated as a “studio partner,” giving it access to further tax incentives. As a studio partner, Netflix will benefit from a $150 million pool of tax incentives and a potential 40% tax credit in exchange for operating its studio in New Jersey for at least ten years.

Governor Murphy emphasized the project’s impact on job creation and economic growth. Netflix aims to generate up to 3,500 jobs during construction and employ over 1,000 people once operational. The studio is expected to contribute between $3.8 billion and $4.6 billion to New Jersey’s economy over 20 years.
Netflix’s proposal includes transforming a part of Fort Monmouth into a campus with soundstages, offices, a warehouse, and facilities for actors and production crews. The project will eventually feature 12 soundstages, office buildings, retail shops, a theater, a hotel, and other amenities. Local officials from Oceanport and Eatontown, where the studio will be built, have expressed support for the development, highlighting its significance for the regional economy and community transformation.

Brookdale Community College in Monmouth County has introduced an associate’s degree in film production, with other community colleges in New Jersey planning similar programs to prepare students for jobs in the film industry.