Hollywood welcome in N.J. as Murphy approves 5 years of film tax credits

"Joker" movie

Joaquin Phoenix's Arthur Fleck gets jumped by some teenagers early in the film "Joker." The production filmed on Newark's Market Street near the marquee for the old Paramount Theatre. Storefronts were transformed into pornography theaters.Niko Tavernise | Warner Bros.

Gov. Phil Murphy on Tuesday agreed to extend through 2028 a tax incentive program to bring film, TV and digital productions to New Jersey.

The program is only in its second year and isn’t slated to expire until 2023. But the law the governor signed Tuesday adds five additional years the corporation business tax and income tax credits available to productions that choose to film at locales in the Garden State.

The law (S3842) also increases the annual cap on awards to film productions from $75 million to $100 million and allows any dollars not spent in one year to roll over to the next.

Murphy, Democrat, and the Democratic-controlled state Legislature brought back the controversial tax incentive program in 2018 after a three-year hiatus.

Former Gov. Chris Christie, a Republican who was critical of tax credits doled out to “Jersey Shore,” the reality show starring Snooki and the Situation that Christie said reinforced negative stereotypes of New Jersey, allowed the program to expire and vetoed efforts to revive it.

But Murphy said this new generation of tax credits would spur economic growth and industry development.

“New Jersey has a rich history of film production and has been the backdrop for a host of iconic productions," Murphy said in a statement Tuesday. “Expanding our popular film and digital media tax credit program will ensure that studios will continue to seek out New Jersey as a filming location, bringing skilled jobs and economic activity with them.”

The law allows film productions to apply for savings of 30 percent on their expenses from 2019 to 2023 if they film in the upper half of the state. It allows them up to 35 percent if they choose to film in the counties of Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer or Salem.

Digital companies can apply for 20 percent, or 25 percent if they choose south Jersey. Productions are also eligible for diversity tax credits if they take steps to recruit and hire women and minorities.

Tens of millions of dollars have been awarded recently, including $10.2 million to HBO’s adaptation of the Philip Roth novel “The Plot Against America," $6.9 million to Steven Spielberg’s “West Side Story,” $2.8 million to WWE’s “Wrestlemania 35” and $2 million to “Joker," among others.

Samantha Marcus may be reached at smarcus@njadvancemedia.com. Follow her on Twitter @samanthamarcus.

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