New Jersey’s film and media industry just took another giant leap forward. In a groundbreaking move that underscores the state’s growing power in entertainment production, Paramount Global has signed a 10-year anchor lease with 1888 Studios for its massive production campus in Bayonne. The agreement solidifies the Garden State as one of the most important emerging media hubs on the East Coast and delivers a major boost to its creative economy.
The deal, announced this week, represents one of the largest and most significant studio commitments in New Jersey’s history — and it’s poised to generate thousands of jobs and millions in economic output over the next decade. For Bayonne, a city once defined by its industrial roots, the transformation into a media and production powerhouse is well underway.
“I’m all for it,” says Kevin Interdonato, actor and independent filmmaker. “As an actor and filmmaker based in Jersey, it’s exciting to see more opportunities coming here so we can work close to home and keep things local. The hope is that they recognize the talent already in this state, rather than outsourcing to out-of-state locations, which they can do and still benefit from the tax credit. Jersey is embracing their existence here and enabling them to save massive amounts of funds per production. Let’s see if they return the favor.”
From Industrial Waterfront to Creative Epicenter
Located on the Bayonne Peninsula, the 1888 Studios site spans over 60 acres and will house a state-of-the-art media complex, including sound stages, post-production facilities, backlot space, and offices. The project’s name pays homage to the year Thomas Edison created the world’s first motion picture in West Orange — a nod to New Jersey’s deep roots in cinematic innovation.
The new lease ensures that Paramount, one of the biggest names in global entertainment, will anchor the campus for at least the next decade. The company plans to produce a mix of streaming content, film projects, and television series from the site once construction is completed.
The move highlights how New Jersey’s film incentives, workforce, and infrastructure are attracting some of the world’s largest content creators. In recent years, the state has gone from a peripheral player to a serious contender for major productions — thanks to aggressive tax credits, strategic redevelopment, and access to the New York City talent pool.
A Boon for Bayonne and the State Economy
The economic impact is expected to be profound. Once operational, the 1888 Studios complex could employ thousands of workers ranging from set designers and cinematographers to carpenters, electricians, and caterers. Local small businesses — including restaurants, hotels, logistics providers, and transportation services — are also poised to benefit.
According to early economic projections, the 1888 Studios development could inject hundreds of millions of dollars annually into the state’s economy, while also revitalizing Bayonne’s waterfront area. The site’s redevelopment also addresses a broader state goal: converting underutilized industrial land into sustainable, high-value job centers
How the Deal Came Together
The 10-year lease is the result of years of planning between state officials, developers, and media industry executives. New Jersey’s Film and Digital Media Tax Credit Program, offering up to 35 percent in production credits and 40 percent for post-production, played a major role in attracting companies like Paramount.
These incentives, combined with the state’s proximity to Manhattan and robust transportation network, have created a perfect storm of opportunity. New Jersey now rivals New York and Georgia as one of the most sought-after destinations for television and film production in the United States.
1888 Studios, led by developer Arpad “Arki” Busson and his team, has been working closely with Bayonne officials and the New Jersey Economic Development Authority (NJEDA) to make the project a reality. Construction is expected to continue through 2026, with full operations launching soon after.
Paramount’s East Coast Expansion Strategy
For Paramount Global, the Bayonne lease represents a strategic expansion of its East Coast production footprint. The entertainment giant — which owns CBS, MTV, Nickelodeon, and Paramount Pictures — has been investing heavily in localized studio operations to support its growing streaming platforms and original content output.
By anchoring itself in Bayonne, Paramount gains a competitive advantage: immediate access to New York City’s talent pool while benefiting from New Jersey’s more favorable tax structure and lower production costs. The deal also helps Paramount reduce logistical strain on its existing East Coast facilities and positions it to compete more effectively with streaming giants like Netflix and Disney+.
Ripple Effects: Jobs, Real Estate, and Small Business Growth
The Paramount-1888 Studios partnership isn’t just a win for the entertainment industry — it’s a massive opportunity for New Jersey’s small business community. Film and television productions rely on a wide array of local services, from catering and security to set construction and costume design.
Hudson County businesses are already reporting early inquiries related to potential studio partnerships. Real estate professionals anticipate a surge in demand for commercial space to support media-related operations, including casting agencies, editing studios, and production support firms.
Challenges and What Comes Next
While enthusiasm runs high, experts note that success will depend on how efficiently the project is executed. The buildout of the studio complex will require significant infrastructure support, from traffic management and housing to public transportation and energy usage.
Local leaders are already coordinating with state agencies to ensure that Bayonne’s infrastructure can handle the expected growth. The city’s location — directly adjacent to the New Jersey Turnpike and within easy reach of Port Newark and Newark Liberty International Airport — gives it a strong logistical advantage.
The first phases of 1888 Studios are expected to open in late 2026, with full operations projected by 2027-2028. Once complete, the complex will stand among the largest film and television campuses in the United States.
New Jersey’s Growing Entertainment Identity
This deal is the latest in a string of high-profile media investments reshaping New Jersey’s economic landscape. Netflix’s $900 million studio at Fort Monmouth, Lionsgate’s Newark expansion, and now Paramount’s Bayonne lease all signal that the Garden State is fast becoming the next big name in American entertainment production.
As Robert Summerfield, Bayonne’s Director of Planning and Development, put it: “People used to say New Jersey was where you filmed because you couldn’t afford New York. Now they’re filming here because they want to.”
Paramount’s 10-year anchor lease with 1888 Studios isn’t just a business deal — it’s a defining moment for New Jersey’s evolution as a creative and economic powerhouse. It represents the intersection of policy, opportunity, and innovation — where an old industrial city finds new life through storytelling and technology.
For Bayonne, for the state, and for thousands of workers and small businesses, this agreement marks the beginning of something big: a new chapter where Hollywood meets Hudson County.
Tom is a lifelong New Jersey resident, Rutgers and FDU alumni and the publisher of The Digest.
