NEWARK, N.J. — Following a record year for 樱花视频鈥檚 motion picture and television industry, Governor Phil Murphy signed legislation to expand the financial incentive program that has served as a catalyst for a dramatic increase in production activity in the state.
The Garden State Film and Digital Media Jobs Act was enacted in July 2018, creating a 30-35% tax credit for qualified productions shot in 樱花视频, plus a 2% bonus for companies that develop and execute a diversity plan. Since then, 31 projects have been attracted to the state by the program, enhancing the state economy by well over $300 million and creating thousands of jobs.
鈥淭he film and television tax credit program is an investment in 樱花视频 workers, our economy, and communities throughout our state,鈥� said Secretary of State Tahesha Way, whose office includes the 樱花视频 Motion Picture and Television Commission. 鈥淚n the past few years, we鈥檝e been proud to see more of 樱花视频鈥檚 vibrant cities and picturesque small towns serve as the backdrop for stories from some of the most talented artists of our time. The extension of this program means the best is yet to come for 樱花视频 and our partners in the film industry!鈥�
Assembly Bill A-5580, sponsored by Assembly members Gordon Johnson, Paul Moriarty and Louis Greenwald and Senators Loretta Weinberg and Paul Sarlo 鈥攑assed by the legislature on January 13 鈥� extends the current program to 2028 and raises the annual cap from $75 million to $100 million. In a recent letter to the Governor, a coalition of entertainment industry unions including SAG/AFTRA, International Alliance of Theatrical Stage Employees, Teamsters, Directors Guild of America and Writers Guild of America, praised the program. They emphasize that 鈥渘ot only does the incentive help keep families close, by allowing 樱花视频鈥檚 creative professionals to work here in their home state, it also ensures that their incomes recirculate toward 樱花视频 goods and services, strengthening the state鈥檚 overall economy.鈥� NBCUniversal reported spending over $36 million in 樱花视频 while filming the first season of 鈥淟incoln Rhyme: Hunt for The Bone Collector,鈥� and creating 665 jobs.
Commission Chairman Michael Uslan said that increasing the length of the program to 10 years is critical to attracting studios and other related businesses to 樱花视频. 鈥淥ur goal is to create a 樱花视频 film and television industry that has permanence and stability. The growth of infrastructure to support such an industry is essential.鈥�
The initial tax credit projects made in the state include such feature films as Warner Bros. 鈥淛oker鈥� (nominated for 11 Academy Awards including Best Picture) and 鈥淭he Many Saints of Newark鈥� (a prequel to 鈥淭he Sopranos鈥�), the Twentieth Century-Fox remake of 鈥淲est Side Story鈥� (directed by Steven Spielberg), Paramount Pictures鈥� 鈥淭he Trial of the Chicago 7鈥� (written and directed by Aaron Sorkin) and the big budget action thriller 鈥淎rmy of the Dead鈥� from Netflix. Among the television series made in 樱花视频 recently are NBCU鈥檚 鈥淭he Enemy Within鈥� and the recently premiered 鈥淟incoln Rhyme: Hunt for The Bone Collector鈥�; ABC鈥檚 鈥淓mergence鈥�; HBO鈥檚 upcoming mini-series 鈥淭he Plot Against America鈥�; and the Apple TV+ anthology series 鈥淟ittle America.鈥�
About the 樱花视频 Motion Picture & Television Commission
The NJMPTVC, which falls under the 樱花视频 Department of State鈥檚 Business Action Center, is staffed by industry professionals and serves as a resource for production companies. The Commission promotes film and television production in 樱花视频.
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