1888 Studios and Paramount have reached a 10-year lease agreement for their 1.6 million square foot, 58-acre film and television production campus in Bayonne, officials said Tuesday.
By John Heinis/Hudson County View
“Scaling our production and expanding our slate of world-class entertainment is central to our long-term strategy. We’re thrilled to invest in the United States and in the region and lean into our creative momentum to spark economic growth,” Paramount Chief Strategy Officer and COO Andy Gordon said in a statement.
“We’re deeply grateful for the support and partnership of Governor Murphy, Senator Raj Mukherji, the New Jersey Economic Development Authority, and 1888 Studios. Thanks to highly competitive tax credit programs like New Jersey’s, the tri-state 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.”
Through New Jersey’s Film and Digital Media Tax Credit program, 1888 Studios offers tenants competitive incentives comparable to other leading production hubs worldwide.
Expanded in 2025, the program empowers the New Jersey Economic Development Authority (NJEDA) to designate three Studio Partners and three Film-Lease Partner Facilities, each linked to large-scale infrastructure commitments.
1888 Studios was designated New Jersey’s first Film-Lease Partner Facility in May 2024, as HCV first reported, and Paramount has submitted its Studio Partner application, which is under NJEDA review and will be brought to its Board for consideration on Thursday.
“With 1888 Studios, we set out to build a cutting-edge facility that would attract the world’s most ambitious storytellers – giving New Jersey true scale and a home for every facet of film and television production under one roof,” added Togus Urban Renewal Chair Arpad “Arki” Busson.
“By keeping American productions at home, the project, which will be constructed by union workers, will generate thousands of jobs and additional opportunities for New Jersey’s small businesses.”
The NJEDA’s support for the project came just under two months after the Bayonne City Council approved a $65 million bond and a 30-year payment in lieu of taxes (PILOT) program for the project then valued at approximately $925 million.
It took three tries before the governing body came up with a plan that worked for all parties.
“Paramount’s expansion into New Jersey, utilizing 1888 Studios’ large-scale, full-service production campus in Bayonne, reflects the incredible momentum of our state’s creative sector, solidifying our reputation as a global powerhouse in the entertainment industry,” expressed Gov. Phil Murphy.
“By attracting world-class studios and productions, we are not only creating high-quality jobs, promoting infrastructure, and driving economic growth, but are also investing in our communities and elevating New Jersey as a national leader in entertainment.”
