Could New Jersey outshine Hollywood as America’s next film capital? This tri-state underdog is making a bold bid for the spotlight, fueled by savvy incentives and massive studio investments. It’s a story of economic opportunity that free-market enthusiasts can’t ignore.
According to the New York Post, New Jersey has transformed into a filmmaking juggernaut, with $592 million in economic impact from 547 projects in 2023, driven by tax incentives and major studio commitments from Netflix, Lionsgate, and 1888 Studios.
Let’s rewind to the roots. Film and television production began in New Jersey under Thomas Edison in Fort Lee, long before Hollywood stole the show. As Tim Sullivan, CEO of the New Jersey Economic Development Authority, noted, “We were Hollywood before there was a Hollywood.”
This isn’t just nostalgia—it’s a comeback. The state, home to stars like Meryl Streep and Jack Nicholson, has hosted big names such as Adam Sandler and Lady Gaga in recent projects. It’s a magnet for talent, and the numbers prove it.
Back in 2017, New Jersey’s film industry generated a modest $67 million. Fast forward to 2023, and that figure soared to nearly $600 million. That’s a growth story any investor would salivate over.
What sparked this boom? In 2018, Gov. Phil Murphy signed the Film and Digital Media Tax Credit, a policy designed to lure productions. While some might question government handouts, the results speak: incentives can drive private investment when done right.
That same year, Tim Sullivan took the helm at the New Jersey Economic Development Authority. He’s been a vocal champion of the industry’s potential. Sullivan said, “We see a huge economic opportunity here.”
He’s not wrong to be optimistic. Beyond the glitz of celebrities, Sullivan emphasized the real impact: “It’s really impactful to small businesses, construction workers and vendors.” This isn’t just about fame—it’s about paychecks. Jobs are the real headline. Sullivan highlighted a laundry list of roles—carpentry, catering, security, and more—that benefit. He called the studio commitments a source of “a ton of jobs” for residents.
Now, let’s talk big money. Netflix broke ground on a $1 billion project at Fort Monmouth, turning an old army base into a half-million-square-foot studio, expected to open in 2028. It’s a transformative bet on the state’s future.
Lionsgate isn’t far behind. In 2022, they announced two massive facilities: a 300,000-square-foot site in Newark and a 1.6-million-square-foot complex in Bayonne, slated for 2027 completion. That’s serious square footage for serious production.
Then there’s 1888 Studios, named for the year Edison patented the motion film camera. Their facilities, set to be fully operational by 2026, add another layer of investment. Sullivan predicts New Jersey will be a “top three” destination once these studios are live.
This growth dovetails with broader efforts to keep film production domestic. President Donald Trump’s push for a 100% tariff on foreign-made movies, announced in early May, signals a desire to bolster American jobs. New Jersey is well-positioned to capitalize.
For investors and liberty-minded readers, this is a case study in balancing incentives with opportunity. While government intervention can distort markets, here it’s catalyzing private capital and job creation, without radical overreach. It’s a rare win worth watching.
Want to get in on this? Consider local real estate near these studios or small businesses servicing film crews. New Jersey’s film boom could be your next wealth-building play—just don’t wait until the credits roll.