New Jersey has struck separate pacts with Netflix and Lionsgate to transform vacant properties and bring more studio production facilities to the Garden State. New Jersey Gov. Phil Murphy unveiled …
to transform vacant properties and bring more studio production facilities to the Garden State.
“This transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth,” said Murphy of the Netflix plan for the sprawling Fort Monmouth property. “As a result of nearly a billion dollars in film production spending, New Jersey will further solidify its status as an emerging national leader in the television and film industries.
The Lionsgate facility is touted as the state’s first-ever “purpose-built” TV and film production facility. Lionsgate has been named one of three official studio partners of the New Jersey Economic Development Authority, which gives the studio generous tax incentives to produce movies and TV shows in the state. It also allows Lionsgate to include more above-the-line salaries and related costs, from $15 million to $60 million depending on the size of the project, in tax credit applications.
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