NJ legislation would extend film production tax credits
TRENTON — An Assembly committee has advanced a bill to extend tax credits for companies filming or producing movies in the Garden State by five years through 2028.
A5580 extends the availability period for tax credits for certain expenses incurred for production of certain film and digital media content, raises annual caps related to film production, and provides for annual administration of film tax credits.
Assemblyman Gordon Johnson, D-Bergen, says he remembers seeing one production in his district.
"The restaurants and caterers made out every day because they had food coming in ... It's an economic stimulus for the region," he said. "All the local hardware stores made money for doing their sets."
Johnson says film companies requested the extension.
"The extension gave the industry a feeling of being able to better plan out their budgets when it comes to shooting series," he said.
He also says that besides the obvious benefits of having a production spending money in New Jersey while they film, there's also the "bragging rights" that goes along with "filmed in New Jersey".
Joe Cutter is the senior news anchor on New Jersey 101.5