NJ Tax Incentive For Film, TV Production Expanded

TRENTON, NJ — Media tax credits are expanding in the Garden State amid Gov. Phil Murphy's ongoing push to make New Jersey a top destination for film and television productions.

The latest bill increases the tax credit for digital media content production to 35 percent for qualified purchases made from vendors in in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, or Salem Counties, or 30 percent of "all other qualified digital media content production expenses purchased within the State," a news release said.

The bill also increases the annual limit on these tax credits from $10 million to $30 million.

Notable box office draws such as "West Side Story," "The Equalizer," and "The Many Saints of Newark" were made in the Garden State. Following their successes, the state aims to make New Jersey a top destination for big picture productions.

“This legislation will ensure that our state remains a top destination for some of our country’s most significant film and TV productions,” said Governor Murphy in a news release. “The New Jersey Film & Digital Media Tax Credit Program has brought numerous productions to our state, creating jobs for New Jerseyans, and bringing in money that is being spent with local businesses. We look forward to attracting even more productions to our state with the expanded tax credits and improvements that this legislation provides.”

Beginning in fiscal year 2025, the bill "also allows an additional $100 million in tax credits for New Jersey film-lease partners from tax credits authorized under other incentive programs."

Tim Sullivan, New Jersey Economic Development Authority Chief Executive Officer, also praised the decision:

“New Jersey offers significant advantages to productions seeking a vast and diverse on and off camera talent pool and an array of authentic sites for all sorts of productions,” Sullivan said in a news release.

“Governor Murphy and the Legislature clearly recognize the opportunity the growth of the film and digital media sector represents for the state and their action today to expand the Film and Digital Media Tax Credit will help New Jersey continue to compete for high-profile productions and the influx of economic activity they bring.”

The New Jersey Film & Digital Media Tax Credit Program was first signed into law in 2018 as a way to bring tourists and economic development to the Garden State. At the time it was established, some lawmakers jokingly called it the "Snooki amendment" and said Murphy was trying to set up a "Jersey Shore" cast reunion.

"The film and digital media industry is poised to become a dynamic part of New Jersey's economy, one that will create good-paying union jobs and countless residual benefits to the economy," Murphy said at the time.

The program was first expanded in 2020.