Quantcast
Home > Press Room
  • Print
  • Send to email


  
  
  


Press Releases

​Applications Now Open for NJ Film Tax Credit Program

TRENTON, N.J. (December 17, 2018) – Film and television production companies can now apply for tax credits through the New Jersey Film Tax Credit Program, the New Jersey Economic Development Authority (NJEDA) announced today. As part of the Garden State Film and Digital Jobs Act signed by Governor Phil Murphy earlier this year, the program is designed to spur economic growth and industry development by encouraging production companies to undertake projects in New Jersey.

“From beautiful beaches to bucolic farmland, quaint downtowns, and bustling urban centers, plus proximity to talent, New Jersey has much to offer production companies,” Governor Murphy said. “The state has a long history of arts and culture, and this program will help to bring the film and media industry back to New Jersey, spurring economic activity that will have a ripple effect throughout local communities.”

In July, Governor Murphy signed Senate Bill No. 122, the Garden State Film and Digital Media Jobs Act, which provides tax credits equal to 30 percent of qualified film production expenses, or 35 percent of qualified film production expenses incurred for services performed and tangible personal property purchased through vendors whose primary place of business is located in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer or Salem County. In order to be eligible, 60 percent of the film’s total production expenses (excluding post-production costs) must be incurred for services and goods purchased through vendors authorized to do business in New Jersey, or the qualified film production expense must exceed $1 million per production.

“Film and digital media is one of the growth industries targeted by Governor Murphy’s plan for a stronger and fairer New Jersey economy, and this program will help pave the way for cutting-edge production companies to choose a New Jersey location,” NJEDA Chief Executive Officer Tim Sullivan said. “We welcome projects of all sizes, which will create jobs and other economic opportunities for the State’s diverse communities and businesses.”

Sullivan noted that the program was designed to maximize its impact to New Jersey and local communities. This includes a bonus of two percent for applications accompanied by a diversity plan, which would include goals that prioritize the hiring of women and minorities. In addition, while "reality shows" are generally ineligible, production companies that own, lease, or otherwise occupy a production facility of at least 20,000 square feet in an Urban Enterprise Zone for at least two years—and make a capital investment of at least $3 million in that facility—are eligible.

An application and a complete list of eligibility requirements can be found at www.njeda.com/njfilmtaxcredit. The Digital Media tax credit is a separate application and is expected to be available in January. 

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit https://www.njeda.com  and follow @NewJerseyEDA on FacebookTwitter and LinkedIn.
###
Top  ∧