NJEDA Board Designates New 1888 Studios in Bayonne as First Film-Lease Partner Facility
Retrieved on:
Wednesday, May 8, 2024
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The New Jersey Economic Development Authority (NJEDA) Board today designated 1888 Studios in Bayonne, developed by Togus Urban Renewal, LLC, as a Film-Lease Partner Facility.
Key Points:
- The New Jersey Economic Development Authority (NJEDA) Board today designated 1888 Studios in Bayonne, developed by Togus Urban Renewal, LLC, as a Film-Lease Partner Facility.
- “Receiving this first-of-its-kind designation for 1888 Studios is largely due to the unwavering support of Mayor Jimmy Davis of Bayonne.
- Future tenants of a Film-Lease Partner Facility can receive increased tax credit awards for filming in New Jersey.
- The program was expanded in 2021, increasing the annual allocation to $400 million and granting the NJEDA authority to designate eligible film studio developments as Film-Lease Partner Facilities.