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Paramount Expands Presence in New Jersey

1888 Studios, a modern 1.6 million square foot film and television campus in Bayonne, New Jersey, announced that Paramount, part of Skydance Corporation (NASDAQ: PSKY), has signed a significant 10-year lease.

Paramount will occupy over 285,000 square feet of the facility, creating a substantial production hub in New Jersey and reinforcing the state’s position as a leading destination for film and television production. This expansion aligns with the state’s tax incentive programs that attract major global media companies.

New Jersey Film and Digital Media Tax Credit Program

Through this incentive program, 1888 Studios provides competitive benefits similar to those in other major production centers globally. The 2025 expansion authorized the New Jersey Economic Development Authority (NJEDA) to appoint three Studio Partners and three Film-Lease Partner Facilities. Each designation requires strong infrastructure commitments.

In May 2024, 1888 Studios became New Jersey’s first Film-Lease Partner Facility. Later, on October 30, 2025, the NJEDA named Paramount as an official Studio Partner.

“Scaling our production and expanding our slate of world-class entertainment is central to our long-term strategy.” — Andy Gordon, Chief Strategy Officer and Chief Operating Officer, Paramount

Summary

Paramount’s investment strengthens New Jersey’s film industry, ensuring continued growth under supportive economic programs and advanced production infrastructure.

Author’s summary: Paramount’s 10-year partnership with 1888 Studios positions New Jersey as a top U.S. film hub supported by new tax incentives and state-backed infrastructure.

NJ.gov — 2025-11-02