Paramount Signs On at Bayonne's 1888 Studios as NJ Film Industry Hits Record Highs

The announcement came almost quietly in late October, but its implications for New Jersey’s economy are anything but small: Paramount, now under Skydance Corporation ownership, has been designated as a Studio Partner under the state’s Film and Digital Media Tax Credit program after committing to lease space at 1888 Studios in Bayonne.

The deal represents the latest milestone in what has become a banner period for New Jersey’s film and television industry. According to state data, film production in New Jersey generated $833 million in qualified spending in 2024, an all-time high that created more than 30,000 jobs statewide. The state has positioned itself as one of the fastest-growing production hubs in the country.

For Bayonne, the Paramount partnership adds another major tenant to 1888 Studios, a facility that has helped transform the city’s waterfront from industrial decay into a hub for creative industries. The studios occupy a former military supply terminal, repurposing massive warehouse buildings into state-of-the-art production facilities capable of hosting major film and television projects.

The transformation reflects a broader economic shift in Hudson County and across New Jersey. As traditional manufacturing has declined, state and local officials have worked to attract industries that can provide good-paying jobs while leveraging the state’s proximity to New York City and its diverse locations. Film production fits that bill.

New Jersey’s film tax credit program has been instrumental in driving this growth. The program, which offers credits of up to 37 percent for qualified production expenses, has made the state competitive with established production centers like Georgia and California. The Studio Partner designation given to Paramount provides additional certainty and benefits for sustained production activity.

Governor Phil Murphy has made the film industry a priority during his administration, viewing it as both an economic development tool and a way to showcase New Jersey to national and international audiences. Productions filmed in the state have ranged from major Hollywood features to prestige television series, bringing crews, equipment, and spending to communities across the state.

The industry’s growth has also created opportunities beyond the soundstages themselves. Restaurants, hotels, and local businesses benefit when production crews set up shop in their communities. Catering companies, equipment rental firms, and construction contractors have all found new clients in the entertainment industry.

Critics have questioned whether the tax credits represent an efficient use of state resources, arguing that the jobs created might not justify the revenue foregone. Supporters counter that the multiplier effects of production spending extend far beyond direct employment and that the credits have helped establish New Jersey as a permanent player in an industry that was previously concentrated in California and New York.

The Paramount deal suggests that major studios see New Jersey as more than a one-time filming location. The Studio Partner designation indicates a commitment to sustained production activity, which could lead to follow-on investments in facilities and workforce development.

For workers in the industry, the growth has meant more opportunities closer to home. New Jersey residents who once had to commute to New York for production jobs can now find steady work in their own state. Training programs at community colleges and universities have expanded to meet the demand for skilled technicians, production assistants, and other crew positions.

As 2025 draws to a close, the film industry stands out as one of New Jersey’s economic success stories. Whether it can sustain this momentum will depend on continued investment, favorable policy, and the broader health of the entertainment industry. For now, the cameras keep rolling.