In our spotlight on Business Report tonight, Netflix is building a $900 million production facility on the site of the Fort Monmouth Army base.

Netflix won the bid to build the studio that will be 500,000 square feet and will include 12 soundstages.

Now, to build on the base, Netflix will have to knock down at least 95 former Army buildings, some that were built as early as the 1920s.

The building plans have to be approved by the three towns that contain the army base.

Eatontown, Ocean Port and Tinton Falls.

The governor today welcomed Netflix to the state, emphasizing all the new jobs that this development will bring together.

These union workers will literally build a new cornerstone for New Jersey's burgeoning film and television production industry.

And then once this facility is completed, our hard working IATSE or IATSE members will be the beating heart behind every production, pulling together sets and enabling the words written on paper to come to life.