Paramount Signs 10-Year Lease at 1888 Studios in New Jersey Production Push

Paramount signed a 10-year lease for over 285,000 square feet at 1888 Studios in Bayonne, New Jersey. The agreement gives the studio access to state tax breaks reaching 40% on film and TV shoots.

The New Jersey Economic Development Authority will review Paramount's application for studio partner status. Approval would make it the state's third official studio partner, joining Lionsgate and Netflix.

Andy Gordon, chief strategy officer and chief operating officer for Paramount, said the move supports production goals. "Scaling our production and expanding our slate of world-class entertainment is central to our long-term strategy," said Gordon in a statement, according to Deadline.

"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," Gordon said.

The lease follows Skydance Media's $8 billion merger with Paramount Global last August. They combined to create a new entertainment company. 1888 Studios earned its designation as New Jersey's first film-lease partner facility back in May 2024.

The campus takes its name from 1888, when Thomas Edison patented the motion picture camera. Gensler designed it to echo Golden Age Hollywood.

Gov. Phil Murphy says the agreement signals growth. "Paramount's expansion into New Jersey, utilizing 1888 Studios' large-scale, full-service production campus in Bayonne, reflects the incredible momentum of our state's creative sector, solidifying our reputation as a global powerhouse in the entertainment industry," Murphy said in a statement.

1888 Studios should start operations by the fourth quarter of 2028. The facility will pack in lighting and grip equipment, a five-story parking garage, and LED volume capture technology.

Bayonne Mayor Jimmy Davis called the lease a victory. "This is a big win for Bayonne, Hudson County, and the State of New Jersey," Davis said.