One of the biggest media companies in the world has its eyes on New Jersey in a move that could restore a vacant military facility.

Netflix placed a bid in June to purchase land from Fort Monmouth. The company is now one step closer to making that deal.

“Fort Monmouth is one of the most strategically located, attractive industrial sites in the United States today,” says John Boyd, principal of the Boyd Company. He is a consultant in corporate site selection.

The former base closed in 2011 after nearly 100 years of military activity. It is now being redeveloped by the Fort Monmouth Revitalization Authority.

“New Jersey has effectively targeted the film and media industry over the years with powerful new incentives,” says Boyd.

The land deal encompasses 289 acres located on the border of Eatontown and Oceanport. It would be a close second in size to Netflix’s biggest production hub in Albuquerque.

“Keep in mind, the film industry was created in New Jersey back in 1888 by Thomas Edison,” says Boyd. “TV, film and commercial generate a couple of billions of dollars each year to the economy.”

Gov. Phil Murphy spearheaded the idea in 2021. He said in a news conference last year that Netflix coming to New Jersey would bring high-quality, good-paying jobs to the Garden State.

“I expect this to be the most exciting and headlining economic project in New Jersey history,” says Boyd.

A local business owner says he is excited to see the space revitalized.

“It's going to bring life back to Fort Monmouth. It's been closed, unused vacant property that no one has capitalized on,” says Chris Makowicz, owner of Guido’s Famous Pizzeria.

Netflix and the Revitalization Authority have not come to an agreement on a sale price. There are three other companies - all of them real estate firms - that also placed bids for the same piece of land.