Fort Monmouth

“Jobs and innovation are at the heart of this Netflix-New Jersey partnership, just as they were throughout Fort Monmouth’s rich history.”

The subscription video streaming company will pay $55 million for a 292-acre site on the former Fort Monmouth military base in Eatontown and Oceanport.

The announcement was made Wednesday evening, following a vote by the Fort Monmouth Economic Revitalization Authority to accept Netflix’s bid over three competing offers.

At Fort Monmouth, about 86 percent of the land is under contract, in negotiations or in some stage of redevelopment, Ms. Kopach said.

When Fort Monmouth was designated in 2005 for closing, legislation created a planning authority to oversee redevelopment of the 1,127-acre site, where instrumental technologies like radar were developed.