Tax Incentives Luring Film and TV Producers to NJ
The executive director of the New Jersey Motion Picture and Television Commission says new tax incentives to attract movie and TV productions to the state are working.
Steve Gorelick says the incentives, signed by Gov. Phil Murphy in July, "level the playing field" in competing with other states.
"We have a program that allows us to grant $75 million in tax credits every year to motion picture and television productions shooting in the state," he said.
"We have all of the other bells and whistles here: We have all of the wonderful things that we can offer motion picture and television companies in the way of services and talent and cooperation. But the thing that levels the playing field is an incentive of some sort that we now have."
A few examples cited by Gorelick include the shooting of "The Sopranos" prequel, "The Many Saints of Newark," filming in Paterson on Bradford Place.
Another example, "The Enemy Within," a TV series that spent close to $50 million in the state in the first season alone.
The incentives come in the form of business tax and gross income tax credits for these production companies, which in turn spend millions and millions on the local economy while they are working here.
According to Gorelick, it is an unprecedented time for Jersey film and TV production with what he calls "an avalanche" of productions.
"We are in unchartered territory and we are very excited," he said. "We have pretty much all of the studios and all of the streaming services doing two to three productions."