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Spending on movie and tv manufacturing exceeds $650 million for 2022

On Jan 24, 2023

Total in-state manufacturing spending from filmmaking exceeded $650 million {dollars} in 2022, besting the earlier report of $500 million set for 2021, Gov. Phil Murphy and the New Jersey Movement Image and Tv Fee introduced as we speak on the outset of a sequence of conferences in California between Governor Murphy and the movie, TV, and expertise industries.

The report spending adopted a busy yr that noticed a surge in manufacturing after Thanksgiving. As well as, movement image, tv and streaming productions within the state created over 8,500 jobs in 2022. That quantity is predicted to develop considerably within the coming years as a number of main studios end building.

“Following my reinstatement of the Movie and Digital Media Tax Credit score program and game-changing investments in our quickly increasing movie and tv industries, manufacturing has exploded prior to now 4 years as extra folks be taught what New Jersey has to supply,” the governor mentioned. “This enormous progress has fueled 1000’s of jobs for New Jersey residents whereas offering financial profit to our cities and cities.”

Complete manufacturing spending in New Jersey has surged since 2018, when Murphy reinstated the Movie and Digital Media Tax Credit score program.

“Individuals all around the state are experiencing the fun of getting the following field workplace hit or tv sequence filmed of their group. These productions, plus the current addition of some top-tier studio growth tasks, will proceed to drive financial exercise and create many 1000’s of employment alternatives for New Jerseyans from numerous backgrounds lengthy into the longer term,” mentioned Secretary of State Tahesha Approach. “Governor Murphy’s management of the state’s considerate, cross-agency strategy is preserving New Jersey’s legacy because the birthplace of movie and cementing its place within the trade as a nurturing dwelling the place artistic careers and tasks can thrive.”

New Jersey was the backdrop for dozens of characteristic movies over the previous yr, together with Oppenheimer, Inappropriate Conduct, and Possibly I Do. Main tv sequence filmed right here included The Strolling Useless: Useless Metropolis and Harlan Coben’s Shelter.

The surge in manufacturing has been accompanied by elevated curiosity from studios seeking to arrange store in New Jersey. In 2022, Lionsgate broke floor on a Newark location, and final month Netflix’s bid to buy property at Fort Monmouth for a serious East Coast hub was accredited by the Fort Monmouth Financial Revitalization Authority. Tasks in Bayonne and Carteret have additionally made progress as content material producers seek for area to arrange store.

“From the beginning, Governor Murphy has been decided not solely to extend manufacturing, which we’ve accomplished, but additionally to draw main studios to New Jersey,” mentioned Tim Sullivan, chief govt officer of the New Jersey Financial Growth Authority. “With the flood of curiosity from main content material producers we may see hundreds of thousands of sq. toes of studio area turn into obtainable within the subsequent three years.”

To entry extra enterprise information, go to NJB Information Now.

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