Paramount has signed a minimum 10-year lease agreement with 1888 Studios to occupy more than 285,000 square feet of the production company in Bayonne, N.J. as a way to capitalize on incentives offered from the state’s film and digital media tax credit program.

Variety has learned that 1888 Studios is expected to be operational by the fourth quarter of 2028.

Currently under development by Togus Urban Renewal, 1888 Studios will offer 1.1 million square feet of production space spanning 23 smart sound stages with a minimum of 40-foot clear ceilings, production support space, flexible post-production space, offices, mills, base camp and backlot, and lighting and grip facilities to accommodate every phase of production.

The tax credit program, which expanded in 2025, empowers the New Jer

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