Plan could generate 4,900 full-time jobs, $24.7 million in state wage taxes
Photo of the entrance to on Rt. 35 north, in Fort Monmouth , NJEATONTOWN — Gov. Chris Christie this morning signed legislation creating an authority that will oversee the redevelopment of Fort Monmouth when the military base closes next year.
The Fort Monmouth Economic Revitalization Authority replaces a similar body created in 2006 to plan for the reuse of the 1,127 acres in Eatontown, Oceanport and Tinton Falls when the closure shutters dozens of buildings and relocates more than 5,000 jobs.
Sponsors of the legislation, who gathered with Christie at Fort Monmouth for a bill signing ceremony, estimate the new development, which would span at least two decades, would generate 4,900 full-time jobs, offer more than 2 million square feet of office space and pump $24.7 million in state wage taxes. The plan also calls for building at least 2,200 housing units for low-to-moderate income families as well as market rate homes.
The nine-member authority would be composed of the mayors of the three host communities, a member of the Monmouth County Board of Freeholders, a Monmouth County resident appointed by the governor, two other gubernatorial appointees, a member of the governor's staff and the chairman of the New Jersey Economic Development Authority.
The legislation gives the EDA the authority to secure financing for the development projects and allows agency to act as a designated redeveloper.
Fort Monmouth was targeted for closure as part of the Department of Defense's 2005 Base Realignment and Closure Commission. Its communications research operations are slowly moving to Aberdeen, Md.
This morning, Christie called the decision to close the base "a mistake by the federal government to close this place," but said it is now "an opportunity to bring new economic growth and development to this region and to our state."
Related coverage:
• Bittersweet feelings mark last party at Fort Monmouth before closure
• Randolph Strong is named next, and last, commander of Fort Monmouth
• Fort Monmouth closing tab hits $1.8B, report says
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