Gov. Phil Murphy yesterday signed A5580, an expansion of the New Jersey Film & Digital Media Tax Credit Program, originally signed into law in July 2018.
The bill extends the program by an additional five years so that it will remain in place until July 1, 2028 and adds $25 million to the annual cap on qualified film production expenses, bringing it to $100 million per year. The current digital tax credit’s cap of $10 million per year will remain unchanged.
“New Jersey has a rich history of film production and has been the backdrop for a host of iconic productions,” said Governor Murphy. “Expanding our popular film and digital media tax credit program will ensure that studios will continue to seek out New Jersey as a filming location, bringing skilled jobs and economic activity with them.”
Since the reinstatement of the credit last year, New Jersey has seen a major uptick in spending by film productions and has been host to several major motion pictures, including Joker and West Side Story.
The bill was sponsored in the Assembly by Assembly Members Gordon Johnson (D-Bergen), Paul Moriarty (D-Camden, Gloucester), and Louis Greenwald (D-Burlington, Camden).
“In recent years, we incentivized production companies to film in our state, in order to generate more jobs and revenue throughout New Jersey. Those efforts have been successful in bringing many creative projects to the state,” said Assemblymen Johnson, Greenwald, and Moriarty in a joint statement. “As such, we must now offer those companies the consistency and stability they need to film long-term projects that can span over the course of several years, such as successful TV shows that stay on air for multiple seasons. This new law will help maintain the helpful benefits our state receives from these projects by encouraging companies to continue filming them here.”
“Under Governor Murphy’s leadership, New Jersey’s film and television sector is booming, which creates significant economic activity in the communities that host the production, particularly in industries like construction, security, and food service,” Tim Sullivan, CEO of the NJEDA, said. “With this expanded and extended program, we believe New Jersey is poised to become a major hub for production and studio development.”
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