Netflix has completed the purchase of nearly 300 acres at the former Fort Monmouth site in Oceanport and Eatontown, New Jersey, marking a major milestone for its $1 billion studio project. The development will feature 12 soundstages totaling 500,000 square feet, along with production offices, crew facilities, retail space, and community amenities. The first phase of construction began in May, with full completion expected by 2028. Backed by $387 million in state tax credits and long-term PILOT agreements with local municipalities, the project brings millions in revenue to the surrounding communities. Netflix Studios Fort Monmouth is set to anchor the company’s East Coast productions and further strengthen New Jersey’s growing film and television industry, which reached record spending of $833 million in 2024. The redevelopment will create hundreds of local jobs, stimulate businesses, and transform the historic site into a major production and community hub.