A massive Netflix production studio planned for the Jersey Shore could funnel nearly $65 million in tax revenue to a local town over the next three decades.

Netflix recently secured final site plan approvals for both phases of its $903 million studio project at Fort Monmouth, a former U.S. Army base that spans the border of Eatontown and Oceanport near Route 35.

The Oceanport Borough Council unanimously voted to introduce an ordinance earlier this month to establish a payment-in-lieu-of-taxes program, known as a PILOT, with Netflix.

Under the financial agreement, which applies only to the first phase of the project, Netflix is expected to pay about $64.8 million to Oceanport over 30 years through the PILOT. When an administrative fee is added, the total rises to roughly $66 million.

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