NJEDA Board Designates New 1888 Studios in Bayonne as First Film-Lease Partner Facility
May 08 2024 - 2:20PM
Business Wire
1888 Studios’ 1.5-million-square-foot
development will feature 23 smart sound stages and production
support space
The New Jersey Economic Development Authority (NJEDA) Board
today designated 1888 Studios in Bayonne, developed by Togus Urban
Renewal, LLC, as a Film-Lease Partner Facility. The designation
agreement, which commits the developer to occupying the facility
for at least five years and grants future tenants eligibility to
apply for increased tax credits for projects filmed at the facility
under the Film and Digital Media Tax Credit program, marks a
pivotal moment in New Jersey’s evolution as an emerging force in
film and television production.
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1888 Studios Rendering (Graphic: Business
Wire)
“The increase in film studio development in New Jersey is a
testament to the state’s best-in-the-region incentives and wealth
of local talent, helping transition the Garden State into the
northeastern capital of film and entertainment,” said Governor
Phil Murphy. “The designation of 1888 Studios as a Film-Lease
Partner Facility will open the door for more production companies
to film in New Jersey, helping to support local small businesses
and communities and create thousands of good-paying jobs.”
“Governor Phil Murphy’s revival of New Jersey’s Film and Digital
Media Tax Credit program has made the state a hub of film and media
production, attracting hundreds of millions in revenue and creating
thousands of good-paying jobs,” said NJEDA Chief Executive
Officer Tim Sullivan. “Today’s designation of 1888 Studios as a
Film-Lease Partner Facility highlights how the state’s generous
incentives, breadth of local talent, and diverse filming locations
are attracting the development of world-class studio spaces,
transforming regional economies.”
1888 Studios will stand as the largest and first campus style
film and television studio facility in the Northeast and one of the
largest in the nation, occupying 58 acres of land and 20 acres in
the Newark Bay just miles from New York City. Designed by the
leading architecture firm, Gensler, to evoke imagery of Golden Age
Hollywood, the development will include 23 mega-powered smart sound
stages ranging from 18,000 to 60,000 square feet with 40 to 50
foot-high ceilings, more than 350,000 square feet of production
support space, outdoor backlot space, amenities, office spaces,
mills, lighting and grip facilities, parking garage and storage.
The development will also feature a waterfront park and promenade
accessible to the public. 1888 Studios is expected to open in
2026.
“We are honored Governor Murphy invited us to take part in
fulfilling his ambitious vision to catapult New Jersey –– the
birthplace of moviemaking and the home of the first film studio,
Thomas Edison’s The Black Maria –– back onto the world stage,
reclaiming its title as the premier destination for entertainment
production. Without that vision and his administration’s relentless
commitment to this industry, none of this would be possible,”
said Arpad “Arki” Busson, Chairman of Togus Urban Renewal, the
developer of 1888 Studios. “Receiving this first-of-its-kind
designation for 1888 Studios is largely due to the unwavering
support of Mayor Jimmy Davis of Bayonne. For years, he tirelessly
worked to revitalize the city, culminating in the development of
this state-of-the-art facility. Thanks to Tim Sullivan and the
NJEDA, New Jersey offers a leading tax credit program and
infrastructure that will ensure the state’s competitiveness for
years to come.”
“We are immensely proud to welcome 1888 Studios to our community
and eagerly anticipate the diverse opportunities it will bring to
Bayonne’s workforce. We are turning a new page in Bayonne’s
history, one that promises to be as dynamic and inspiring as the
films that will soon be produced right here in our city,” said
Bayonne Mayor Jimmy Davis. “Today’s designation for 1888
Studios is a testament to the city’s commitment to fostering an
environment where creative and technological industries can
thrive.”
“1888 Studios takes its name from the year Thomas Edison
invented the motion picture camera in New Jersey, and the state
continues to honor that legacy with studio partnerships that
strengthen its standing as a hub of media production,” said New
Jersey Motion Picture and Television Commission Executive Director
Jon Crowley. “As a Film-Lease Partner Facility, future tenants
of 1888 Studios will have the opportunity to access some of the
most competitive filming incentives in the nation, ensuring that
the Garden State stays at the forefront of movie and television
production.”
To be designated as a Film-Lease Partner, developers and
operators must commit to occupying and operating studio
developments in New Jersey for at least five years. Future tenants
of a Film-Lease Partner Facility can receive increased tax credit
awards for filming in New Jersey. The tax credit award increases if
the designated facility’s tenant qualifies as a “film-lease
production company”. To qualify, the production company must occupy
space at designated film-lease partner facility, film at least 50
percent of the total project shoot days in New Jersey, and film at
least 50 percent of the New Jersey shoot days at the designated
facility.
The Film-Lease Partner designation is part of the Film and
Digital Media Tax Credit program, which Governor Murphy reinstated
in 2018, and has led to increased film and digital media production
throughout the state. The program, which is funded through 2039,
provides a tax credit of up to 40 percent of labor expenditures and
up to 35 percent of qualified film production expenses, including a
Diversity Tax Credit of up to four percent for productions that
employ the services of women or people of color.
The program was expanded in 2021, increasing the annual
allocation to $400 million and granting the NJEDA authority to
designate eligible film studio developments as Film-Lease Partner
Facilities.
For more information on the NJEDA’s suite of production support,
visit www.njeda.gov/film/.
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as
the State’s principal agency for driving economic growth. The NJEDA
is committed to making New Jersey a national model for inclusive
and sustainable economic development by focusing on key strategies
to help build strong and dynamic communities, create good jobs for
New Jersey residents, and provide pathways to a stronger and fairer
economy. Through partnerships with a diverse range of stakeholders,
the NJEDA creates and implements initiatives to enhance the
economic vitality and quality of life in the State and strengthen
New Jersey’s long-term economic competitiveness.
To learn more about NJEDA resources for
businesses, call NJEDA Customer Care at 844-965-1125 or visit
https://www.njeda.gov and follow @NewJerseyEDA on
Facebook, Twitter, Instagram,
and LinkedIn.
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New Jersey Economic Development Authority media@njeda.gov
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