Hundreds flock to NJ Film Expo as state incentives draw major productions
New Jersey has made major investments since 2018 that are aimed at attracting film and television productions - investments that officials said are paying off.
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Film industry professionals and state officials gathered Thursday at the NJ Film Expo in East Rutherford to spotlight the Garden State’s rising star status.
New Jersey has made major investments since 2018 that are aimed at attracting film and television productions - investments that officials said are paying off.
Gov. Mikie Sherrill said more than 5,000 film and television productions have been made in New Jersey since 2017, generating billions of dollars in economic investment statewide.
“All of this progress is the result of smart, targeted investments that our state has made and strong partnerships,” Sherrill said. “Those partnerships include industry, government, and labor.”
At the center of the state’s appeal is its production incentive program. Filmmakers can currently receive tax credits ranging from 30% to 35% for in-state productions, with additional incentives available for post-production work and diverse hiring.
“It is the best production incentive credit in America, if not the world,” Sherrill said.
Major studios including Netflix, Paramount and Lionsgate qualify for an even higher incentive, a 40% tax credit.
“The incentive goes out until 2049, so we’re going to see this continue to grow,” Kovach said. “It’s not just the big studios coming in. It’s a lot of small productions as well.”
According to industry professionals, major studios and independent filmmakers are all looking to get involved with the new opportunities.
“New Jersey is becoming a destination for filmmakers. They’re making the movies here. They get to produce them here, and then we get to exhibit them and premiere them here," said Nicholas Marchese, founder and president of the Monmouth Film Festival. “Producers are coming back, post-production companies are coming back, casting networks.”
Sherrill told attendees the state is now focused on keeping momentum going by making New Jersey a long-term home for film professionals.
“I want to make it easier for people to put down roots and have lives here between productions,” Murphy said. “So we’re cutting red tape, we’re lowering costs, we’re investing in the industries of the future. We’re investing in you.”
