It is well known that film production is leaving Hollywood, but what about New Jersey? The state has expanded its production tax credits to as much as 35 percent, which, when combined with additional incentives, can reach 45 percent—approaching the levels offered in the U.K.
New Jersey also provides additional tax breaks for productions that use newly built soundstages.
The state’s growing appeal has attracted major studios. Netflix is building a $1 billion production facility in New Jersey, while Paramount and Lionsgate have each leased space at soundstage complexes currently under development.
In exchange for studios making long-term commitments, New Jersey has earmarked $430 million annually for film and television incentives through 2029.
Meanwhile, Georgia—long considered Hollywood’s favorite filming destination outside California—saw film production decline by 31 percent last year.
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