Netflix, IncNFLX inched closer to building a vast production studio on the Jersey Shore.
A piece of land occupied by a former Army base about 50 miles south of New York City selected Netflix as the top bidder against several developers for nearly 300 acres of the site of Fort Monmouth in the boroughs of Oceanport and Eatontown.
“If our plans are approved, we hope to build a facility that will create significant economic impact and job growth for New Jersey, a state loaded with creative talent and technical expertise,” Netflix stated.
Netflix could gain from Gov. Phil Murphy’s plans to bring Hollywood productions back to New Jersey in a significant way, the New York Times reported.
“We are thrilled to hear that Netflix is interested in establishing a serious presence in New Jersey and look forward to working with them and the rest of the industry to create good-paying jobs and spur economic growth throughout the state,” Murphy said.
It could be Netflix’s second-biggest production complex after its studios in New Mexico.
In September, Netflix built an internal games studio in Helsinki, the capital city of Finland, with Marko Lastikka as the studio director to further consolidate its gaming presence.
In September, Citi said Netflix’s viewership per user was more significant than peers, enabling a price war on the advertising tier. It also acknowledged Netflix’s opportunities to release films theatrically and license-produced content.
Price Action: NFLX shares traded higher by 1.71% at $217.98 on the last check Wednesday.
