Partnership will further cement New Jersey as the premier film and television destination; New Jersey offers one of the most attractive tax incentive programs in U.S. for television and filmmakers
Mumbai, India — The State of New Jersey, Choose New Jersey, New Jersey Motion Picture and Television Commission and the Producers Guild of India today signed a memorandum of understanding to further enhance their mutual relationship and facilitate the shooting of Indian films in New Jersey. New Jersey Governor Phil Murphy signed the MOU on behalf of New Jersey in order to bolster New Jersey’s film industry, which received a boost through the Governor’s Film Tax Credit Program. New Jersey offers one of the most attractive incentive programs in the country for television and filmmakers including a 2% diversity tax credit bonus.
“There is a natural partnership waiting to be uncovered between New Jersey and Bollywood,” said Governor Phil Murphy. “Our state has a diverse population and unrivalled geography that keeps us at the top of the list for film production. We are proud to be one of the host locations – alongside Los Angeles – of the International Gujarati Film Festival, proving that New Jersey provides a tremendous value that can favorably compete and win against any other U.S. location.”
The MOU focuses on idea sharing as well as best practices on film production and promotion. It will also assist the Producers Guild of India (PGI) with the production of films and other cinematic content including location scouting and support for Bollywood film production in New Jersey.
“Today’s announcement facilitates an exciting new relationship for producers in India and motivates us to bring more of our productions to New Jersey,” said Siddharth Roy Kapur, President, Producers Guild of India. “We look forward to bringing more Indian movies to the scenic Garden State in the years ahead.”
PGI is the premier film, television and digital content producers’ body that represents the most important producers of audio-visual content in Bollywood. Established in 1954 by industry veterans, PGI assumes various roles including development of film, television and new media production sector in India by working with the Indian government and stakeholders on critical industry challenges please visit www.producersguildindia.com.
Through this collaboration with one of the world’s largest film industries, New Jersey is further staking its claim as the premier location for film and television production,” said Jose Lozano, President & CEO of Choose New Jersey. “The partnership we are starting today will help New Jersey attract more producers and film crews, helping grow our economy and attract top-talent to our state.”
The New Jersey Economic Development Authority helps attract television and filmmakers to the state through the New Jersey Film Tax Credit. New Jersey’s robust film tax credit equals 30 percent of qualified film production expenses, or 35 percent of qualified film production expenses incurred for services performed and tangible person property purchased through vendors whose primary business is located in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer or Salem County. For eligibility criteria please visit www.njeda.com/filmdigitalmediataxcredit.
“Attracting investment in high-wage, high-growth sectors such as film and digital media is a critical component of Governor Murphy’s plan for a stronger, fairer New Jersey economy,” said NJEDA Chief Executive Officer Tim Sullivan. “New Jersey’s global connectivity, deep talent pool, and diverse array of cities, suburbs, and rural areas make it an ideal location for film productions and the Film Tax Credit further enhances our value proposition. We are excited to work with PGI to bring more Indian productions to New Jersey.”
New Jersey has attracted several high-profile films through this program such as “JOKER,” a film starring Joaquin Phoenix that examines the iconic Batman villain’s origins, as well as Steven Spielberg-directed screen adaptation of “West Side Story.” The films utilize New Jersey’s most diverse cities of Newark and Paterson.
About Choose New Jersey
Choose New Jersey is a privately funded 501 (c)(3) economic development organization with a mission to stimulate job creation and attract capital investment to New Jersey. Choose New Jersey markets New Jersey both domestically and internationally as the best place to grow a business in the United States. Knowledgeable, experienced staff, supported by a network of State agencies and private partners, provide free, confidential assistance to guide companies in establishing operations in New Jersey. By harnessing the power of business, labor, academic and government leaders, Choose New Jersey enables growth across all sectors of the State’s economy, aspiring to build a stronger and more prosperous New Jersey for all. To learn more, visit www.choosenj.com.