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SpanishParamount Pictures Corporation
Fast Facts
Location: Bayonne
Industry: Film, TV, and Digital Media
Country of origin: U.S.
Type of facility: Film/Television Production Studio
Paramount, part of Skydance Corporation, has officially signed a landmark minimum 10-year lease to become the anchor tenant at the upcoming 1888 Studios production campus in Bayonne, committing to occupy more than 285,000 square feet of space within the massive facility. The deal, which unlocks access to New Jersey’s enhanced Film and Digital Media Tax Credit program, positions Paramount to benefit from competitive incentives, potentially up to 40% in tax credits on qualified production expenses, as the state pushes to rival traditional production hubs and attract major film and television projects. The announcement underscores Paramount’s long-term strategy to scale production while boosting the region’s creative economy.
1888 Studios, currently under development on a 58-acre Bayonne waterfront site, is designed to be one of the largest campus-style production facilities in the United States, offering more than 1.1 million square feet of production space across 23 smart sound stages, post-production support, offices, backlot areas, and other infrastructure to support every phase of filmmaking under one roof. The project, developed by Togus Urban Renewal LLC and situated less than 30 minutes from Manhattan, is part of a broader boom in New Jersey’s entertainment sector that has also drawn investment from Netflix and other industry players—a trend officials say will generate thousands of jobs and significant economic growth for the region.
“Thanks to highly competitive tax credit programs like New Jersey’s, the tristate area is more attractive than ever before for production as we work together to create new jobs and empower more domestic production for America’s creative workforce.”
Andy Gordon, Chief Strategy Officer and Chief Operating Officer
Paramount
Andy Gordon, Chief Strategy Officer and Chief Operating Officer
Paramount