Lions Gate Films Inc. Lands Prestigious Studio Partner Designation in New Jersey

NJEDA Awards Groundbreaking Studio Partner Designation to Lions Gate Films Inc. for Newark Studio Development, Marking a Milestone in State's Film Industry Growth.

In a move that underscores New Jersey's growing prominence in the film and television industry, the NJEDA announced today the award of the first Studio Partner designation to Lions Gate Films Inc. This landmark decision falls under the ambit of the Garden State Film and Digital Media Jobs Act. Lions Gate Films Inc. is slated to occupy a significant portion of the new studio space being developed in Newark by Great Point Studios.

Governor Phil Murphy commented on this development, stating, "Awarding this designation is a major step in New Jersey’s evolution as a film and television destination.” He emphasized the role such studios play in attracting larger productions and creating high-quality jobs in the state.

The Studio Partner designation allows Lions Gate to include substantial above-the-line wages and salary costs, such as payments to directors, producers, writers, and performers, as qualified expenses in their application for tax credits. With a staggering $100 million set aside for film and digital media tax credits for studio partners, this initiative marks a significant investment in the industry.

Tim Sullivan, CEO of NJEDA, expressed his enthusiasm, foreseeing a future where the 'Filmed in New Jersey' logo becomes a staple on Lions Gate productions. Great Point Studios Co-Founder Robert Halmi acknowledged the critical role of Governor Murphy and the state in realizing this project, highlighting its benefits for the local entertainment industry and the region at large.

The New Jersey Film and Digital Media Tax Credit Program, originating from the Garden State Film and Digital Media Jobs Act, incentivizes film and digital media productions in the state by offering tax credits. The current project transforms the former Seth Boyden Housing complex in Newark’s South Ward into a state-of-the-art studio facility, with an estimated total cost exceeding $194 million.

This development includes five production stages, comprehensive on-site production services, and anticipates creating over 600 new full-time jobs. Great Point Studios, which also operates Lions Gate’s studio complex in Yonkers, NY, will develop and operate this site.

On September 15, 2022, Great Point Studios and Lions Gate Films Inc. entered into a significant leasing agreement for the Newark studio complex, with construction commencing the following day. The studio complex is projected to be operational by September 2024.

Lions Gate Films Inc., founded in 1998 and a subsidiary of Lions Gate Entertainment Corp., brings to the table a vast library of over 17,000 titles, including notable franchises like "Mad Men," "Orange is the New Black," and "The Hunger Games."