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1888 Studios, a state-of-the-art, 1.6 million square foot film and television production campus in Bayonne, NJ, to be built for movie makers by movie makers, announced today that Paramount, a Skydance Corporation, ("Paramount") (NASDAQ:PSKY), a leading, next generation global media and entertainment company, has signed a landmark minimum 10-year lease agreement. Paramount has committed to occupy more than 285,000 square feet of the facility, establishing a major production hub in New Jersey. Paramount's commitment further cements the state as a premier destination for film and television production, backed by a leading tax incentive program.
Currently under development by Togus Urban Renewal, 1888 Studios is set to become the largest campus-style production facility in the Northeast and one of the largest in the nation. The 58-acre facility will offer over 1.1 million square feet of production space spanning 23 smart sound stages with a minimum of 40-foot clear ceilings; production support space; flexible post-production space; offices; mills; base camp and backlot; and lighting and grip facilities to accommodate every phase of production.
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, and Paramount has submitted its Studio Partner application, which is under NJEDA review and will be brought to its Board for consideration on October 30, 2025.
Said Andy Gordon, Chief Strategy Officer and Chief Operating Officer, for Paramount: "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. 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."
Posted In: PSKY
