In May 2012, the State of New Jersey took a significant step forward in the redevelopment of Fort Monmouth when the Memorandum of Agreement (MOA) transferring the first half of the former Fort property from the U.S. Army to FMERA was formally signed. The momentous occasion marked a new day at the Fort, and strengthened FMERA’s ability to carry out our mission: To create an atmosphere in which employers will employ and investors will invest, to maximize the jobs created and the value of the property.
Ownership of the former Army installation eventually was transferred to FMERA in two separate deeds, in 2014 and 2016, respectively. As of this writing, some 75 percent of the real estate is engaged in one or more of 25+ projects covering portions of our three municipalities of Tinton Falls, Eatontown, and Oceanport. The underlying objectives of the Mission are the creation of 10,000 jobs and $2 Billion of total redevelopment investment, which will provide significant economic impetus and tax revenue for the 3 Boroughs and the County of Monmouth.
The FMERA team is committed to the highest level of transparency and accountability, and with increased activity and interest on the part of investors, developers, and entrepreneurs, we feel an even greater responsibility to keep all of our stakeholders informed and engaged in the redevelopment process. In support of this vital tenet, we invite you to explore the FMERA website, featuring important Board actions, public information, and other noteworthy highlights.
In addition, we want to provide investors, developers, and entrepreneurs with the information and resources needed to understand the opportunities and potential for growth that the land and buildings at Fort Monmouth provide. We encourage visitors to explore the Available Properties and Bidding Opportunities, as well as to learn more about the area Demographics, Targeted Industries and options for Incentives and Financing.
Together with our partners and stakeholders, and based on our joint success to date, we commit to continuing our collective efforts to rejuvenate the former Fort as a source of new jobs, investment and community pride for the residents of Tinton Falls, Eatontown, Oceanport, and Monmouth County.
Over the coming months, we look forward to sharing with you the tremendous progress that is taking shape at Fort Monmouth through this and other communication and messaging vehicles, and to hearing your feedback. Please contact us directly or attend one of our monthly public Board meetings. Thank you.