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Paramount Skydance Signs Major Lease, Promises Job Boom

10/29/2025

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Summary

Story summary

Paramount Skydance signed a 10-year lease for 285,000 square feet at 1888 Studios in Bayonne, New Jersey.
The facility is part of a 1.6 million square foot campus and will benefit from New Jersey's competitive film tax incentives.
Governor Phil Murphy says the deal could create thousands of jobs, attract major productions, and solidify New Jersey's reputation in the entertainment industry.

History

Historical Context

New Jersey's film industry has roots dating back to 1907, when it became the birthplace of American cinema. In 2018, Governor Phil Murphy reinstated the Film & Digital Media Tax Credit Program, offering a 30% tax credit on film projects. This initiative, expanded in 2020 and 2023, has attracted major studios like Paramount Skydance, enhancing New Jersey's competitiveness in the entertainment sector.

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Story summary

Paramount Skydance signed a 10-year lease for 285,000 square feet at 1888 Studios in Bayonne, New Jersey.
The facility is part of a 1.6 million square foot campus and will benefit from New Jersey's competitive film tax incentives.
Governor Phil Murphy says the deal could create thousands of jobs, attract major productions, and solidify New Jersey's reputation in the entertainment industry.

1 / 2