The New Jersey Economic Development Authority (NJEDA) Board has approved tax credits under the Aspire Program for 1888 Studios in Bayonne. The studio, developed by Togus Urban Renewal, will be the largest and first campus-style film and television studio facility in the Northeast, occupying 58 acres of land near New York City.
“With support from the NJEDA’s Aspire program, the development of transformative projects across the Garden State is revitalizing communities and creating thousands of good-paying jobs,” said Governor Phil Murphy. “The development of 1888 Studios in Bayonne furthers my administration’s goal of establishing the state as a leader in movie and television production, helping small businesses and municipalities reap the benefits of local production.”
“1888 Studios exemplifies the type of projects that are being attracted to New Jersey by Governor Murphy’s support for film and digital media production. The incomparable resources and logistical and artistic assets New Jersey offers are contributing to the industry’s momentum in the state, creating thousands of jobs, and enhancing the revitalization of communities and small businesses,” said NJEDA Chief Executive Officer Tim Sullivan. “Today’s approval under the Aspire Program ensures the continued development of this transformative project, which will provide countless opportunities for the city of Bayonne and further New Jersey’s standing as a national leader in film production.”
1888 Studios is considered a transformative project under the Aspire Program and was approved for an award covering up to 50 percent of total project costs, not exceeding $400 million. The development will feature 17 buildings encompassing over 1.5 million square feet dedicated to end-to-end film production services. This includes 23 smart sound stages ranging from 18,000 to 60,000 square feet with ceilings between 40 to 50 feet high, more than 350,000 square feet of production support space, outdoor backlot space, amenities such as office spaces, mills, lighting facilities, a parking garage, and storage.
Additionally, over five acres will be designated as public space featuring a waterfront walkway adjacent to Newark Bay and a public park. Construction is anticipated to be completed by 2026.
In May, NJEDA designated 1888 Studios as a Film-Lease Partner Facility. This designation commits Togus Urban Renewal to occupy the facility for at least five years while allowing future tenants eligibility for increased tax credits for projects filmed there under the Film and Digital Media Tax Credit program.
“Today’s announcement is an affirmation of 1888 Studios’ ability to hasten and secure the transformation of New Jersey’s film industry from a regional leader to a global powerhouse,” said Arpad “Arki” Busson, Chairman of Togus Urban Renewal. “Governor Murphy's ambition to create good-paying jobs in New Jersey communities remains central to this expansion.”
Bayonne Mayor Jimmy Davis remarked on NJEDA's support: “The Aspire Program’s support for 1888 Studios not only underscores the transformative potential film will bring to Bayonne but also what Bayonne will bring to the studio and film industry.”
Aspire is part of an economic development initiative created under New Jersey's Economic Recovery Act (ERA) of 2020 designed to support mixed-use transit-oriented developments through tax credits addressing financing gaps. As a performance-based program requiring certification before disbursement of credits begins upon meeting commitments established during approval time.
In line with fiscal responsibility commitments from Governor Murphy's administration alongside NJEDA provisions such as gap financing review excess revenue-sharing requirements ensure responsible awarding tax credits based rules eligibility criteria sizes other pertinent information found on NJEDA website.
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