Netflix Receives Important Approval To Build Studio In New Jersey

Despite their current per month pricing making them the third most expensive streaming service, Netlfix is still the king of streaming services.  With over 247 Million subscribers in the United States, Netlfix is one of only three streaming services with over 100 million subscribers according to Forbes.

The demand for Streaming Content is at an all-time high, with 99 percent of US Households paying for at least one or more streaming subscriptions and half of those users paying for a streaming service subscription plan without ads.  So if Netflix wants to continue being the King of Streaming Services, they need to keep producing high quality content.

Netflix currently has 29 locations worldwide but only four in the United States, unique for a company whose headquarters are based in California.  But a former military base in New Jersey is now on track to have 292-acres of the land be converted into a Netflix Studio Complex.

The Fort Monmouth Economic Revitalization Authority unanimously approved the required zoning for Netflix's $903 Million Production Studio Project. The US Army Base that was closed in 2011 has approximately 1,200 acres of unused land and Netflix acquisition of 292 acres will not interfere with the World War Two Memorial or Cowan Park.

Netlfix has already committed $848 Million in capital investments for the project that will construct 12 soundstages, office buildings, a hotel, and helicopter landing area.  While New Jersey Governor Phil Murphy and Netflix co-CEO Ted Sarandos hope to transform New Jersey into the "Hollywood of the East Coast", there is something more important coming with this massive Netflix project.

When Fort Monmouth Military Base closed in 2011, there were thousands of jobs that disappeared from New Jersey.  For the last six years, New Jersey has been the number one state for most people moving out of any state, with over 16 percent of those leaving The Garden State are taking new jobs in other states and 27 percent say they want to spend their retirement years elsewhere.

The next step before Netflix can break ground on their massive project is to submit the site plans to the Fort Monmouth Economic Revitalization Authority before the proposal will be presented to the planning boards in for the neighboring towns of Oceanport and Eatontown.

Hopefully everyone can set aside their personal agendas and politics to let this project get started sooner than later. Netflix is going to invest almost a billion dollars into this project and this will ignite more work for New Jersey locals and also great new job opportunities for people to move to The Garden State.

The fringe benefit is that all types of new celebrity sightings will be happening at the Jersey Shore, so keep your eyes open because you never know who you might see in New Jersey in the future.