Fort Monmouth Gets First Tenant
Not long after the closure of Fort Monmouth, the shuttered military base will soon be home to its first corporation.
Data storage company Commvault has worked out an agreement with the County, Tinton Falls and the Fort Monmouth Economic Revitalization Authority (FMERA), to construct a 650-thousand-square-foot headquarters on a 55 acre site.
Tinton Falls Mayor Michael Skudera says "they are keeping their 500 plus jobs in New Jersey, moving their worldwide headquarters to Tinton Falls and have plans of adding between 400 to 15-hundred new jobs."
Skudera believes Commvault will attract other companies to the base and help stimulate the local economy. "I think it will help housing in the area because people will want to be next to jobs. It will help attract other businesses that will either help supply Commvault or maybe a local pizza place or restaurant."
Skudera says the company was drawn by a pilot incentive tax program. "The pilot allows Commvault to come in initially and pay a low tax rate and it increases every so many years until it gets to 90 percent in years 16, 17 and 18.
Plans to beginning construction is expected to begin in a few weeks, according to Skudera and will take place in three phases. He says the first phase will begin with the construction of a nearly 300-thousand square foot facility with the final build out to 650-thousand square feet.