Lionsgate will open movie and TV studio in Newark
Constructed has started on the project, which is expected to bring in $800 million for the City of Newark and state of New Jersey.
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Lionsgate will open a major film and TV studio along Frelinghuysen Avenue in Newark in the spring of 2027.
Constructed has started on the project, which is expected to bring in $800 million for the City of Newark and state of New Jersey.
The property is cleared and construction is starting at what once was the site of the Seth Boyden Project.
A studio with five stages will be built for Lionsgate to create its next lineup of film and television series.
It will also bring in 600 jobs, with 70% to be reserved for Newark residents in the areas of maintenance, landscaping, janitorial and engineering.
One of the reason Lionsgate is choosing New Jersey is because the property sits virtually across the street from Newark Airport and close to New York city.
The main reason is because of the millions of dollar in tax credits being offered by the state.
“We have among the most attractive incentive program in the world. We think this is a 7-1payback in the real economy. So for every dollar you put out, you get $7 of positive economic impact back,” said Gov. Phil Murphy.
Gov. Murphy notes this project is similar to Netflix building studio space on the Fort Monmouth property and Paramount setting up shop in Bayonne.
