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Paramount has signed a 10-year lease at a New Jersey production facility, reflecting California’s increased competition from states offering aggressive tax incentive programs.

The $1-billion facility in Bayonne will include 23 sound stages and more than 1.1 million square feet of production space, opening in late 2028.

New Jersey’s tax credit program, which offers up to 45% of qualified expenditures in some cases, has already won commitments from Netflix and Lionsgate, further intensifying competition with California.

Paramount has signed a 10-year lease on a film and television production facility currently under construction in New Jersey, a move that will give the entertainment

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