The streaming giant also invested $1 billion to expand operations and acquire a studio in Albuquerque, New Mexico, in late 2020, creating 1,000 jobs in the state. It has already begun hosting several Netflix productions. Netflix transformed an old steel factory into a production space in Bushwick, an industrialized but gentrifying area of Brooklyn, last month. In the face of restrictive voting laws in Georgia, several big shows and movies have been on the search for alternative production sites. With movie theaters reopening after COVID-19 pandemic shutdowns, and demand for streaming content booming, studio space in major US production hubs, like Los Angeles and New York, have become more scarce, fueling an intense real estate grab from major studios. The 2018 New Jersey Film & Digital Media Tax credit Program provides a 30-35% tax credit - plus a 2% 'diversity bonus' - that runs through 2028.

New Jersey governor Phil Murphy has sought to boost film and television production, as well as digital media production, in the state. The state of New Jersey is taking bids on the Fort Monmouth site for the next ninety days, through January 2022. However, the Revitalization Planning Authority has been overseeing to the redevelopment of the land since 2006.

Fort Monmouth was recommended for closure by the Pentagon in 2005, and has officially been out-of-operation since 2011. The Fort Monmouth Revitalization Planning Authority valued the site at $54 million, but has previously received higher offers on the property. 'We're excited to submit our bid to transform Fort Monmouth into a state-of-the-art production facility.' 'America's first movie studio was in New Jersey, and today it's home to many talented people working in entertainment,' a Netflix spokesperson said in a statement to Insider on Wednesday. Netflix announced on Tuesday it has put in an offer on the 289-acre, state-owned Fort Monmouth army base in Monmouth county, New Jersey, with the hopes to convert it into additional studio space for its East Coast productions.

Streaming wars, an old military base in New Jersey could find new life as a state-of-the-art film and television production studio.

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