Overview
- Paramount signed a minimum 10-year agreement covering roughly 285,000 square feet at the Bayonne production campus.
- As a tenant, Paramount becomes eligible for New Jersey’s film and digital media tax credits, which are generally 30%–35% and run through 2039.
- Paramount’s separate application for Studio Partner designation is under NJEDA review and is slated for an Oct. 30 board vote.
- 1888 Studios, developed by Togus Urban Renewal, is a 58-acre site under construction targeting roughly 1.6 million square feet of production space with numerous sound stages.
- State leaders and the developer cite job creation and union construction benefits as New Jersey expands its production base and counters New York’s recently enhanced incentives.