NJEDA Applications to Expand Film Studios Presence in NJ Now Open

TRENTON, N.J. (April 2, 2024) – The New Jersey Economic Development Authority (NJEDA) has reopened applications for film production facilities seeking a designation that will facilitate access to a separate pool of tax credits designed to encourage the development of large, long-term film production facilities in the state. Under the New Jersey Film and Digital Media Tax Credit Program, as a complement to the program for individual film production projects, two additional and separate allocations were established to support projects led by Studio Partners and Film-lease Partners Facilities.

In 2022, Lions Gate Film Inc. was awarded the first Studio Partner designation after committing to occupy 253,000 square feet at Great Point Studios development in Newark. The facility is expected to be operational in 2025.

WHAT:           The Studio Partner designation will unlock access to $150 million in annual incentives and allow a production company to capture additional above-the-line salaries and wages as part of its tax credit award calculation, as well as an increased award percentage. Studio Partner applicants must be a production company that has site control of a production facility that is at least 250,000 square feet for at least 10 years. Additional eligibility requirements can be found here. Only three Studio Partner designations can be approved, with only two that remain available, which will be awarded on a first-come, first-served basis to eligible applicants.

A Film-lease Partner Facility designation application is also now available for studios developers who own, lease, or operate a production facility of at least 250,000 square feet for a period of five years or more. The designation allows for future tenants of a designated Film-lease Partner Facility to 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 at least 50 percent of the New Jersey shoot days at the designated facility. Applicants must have site control, and at least preliminary site plan approval, an executed redevelopment agreement, or an adopted redevelopment plan that contemplates the construction of a film studio. Studio Partner and Film-lease Partner Facilities need to be able to provide at least a Temporary Certificate of Occupancy within 36-months of the approval of the designation.

WHEN:          Applications for Studio Partners and Film-lease Partners Facility Designations are now open. For more information and to apply, click here. Questions may be emailed to FilmTaxCredit@njeda.gov. 

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.

###