April 26, 2022
2 minute read
TRENTON, N.J. (April 26, 2022) – The New Jersey Economic Development Authority (NJEDA) has released for public feedback a draft rule proposal for the Garden State Film and Digital Media Jobs Program.
The program, which was first established in 2018, was expanded under the New Jersey Economic Recovery Act of 2020 (ERA), signed by Governor Phil Murphy in January 2021. The Garden State Film and Digital Media Jobs Act, P.L. 2018, c. 56, (N.J.S.A. 54:10A-5.39b and N.J.S. 54A:4-12b) provides a transferable credit against the corporation business tax and the gross income tax for qualified expenses incurred for the production of certain film and digital media content in New Jersey. The goal of the program is to incentivize production companies to film and create digital media content in New Jersey.
“Like other programs established by the ERA, The Film and Digital Media Tax Credit program is designed to encourage equitable and inclusive development,” said NJEDA Chief Executive Officer Tim Sullivan. “The proposed rules establish criteria for the program that will ensure it is administered in a way that will create the economic impact Governor Murphy and the Legislature intended.”
Proposed rule changes include increasing the benefit for productions that submit a diversity hiring plan from two percent to four percent for hiring minority, local, on-screen talent, which will help to make sure opportunities are accessible to qualified individuals from all backgrounds. Additionally, the changes include the availability of new Studio Partner and Film-lease Partner designations which provide extra benefits to production companies who commit to establishing large production facilities in New Jersey.
Members of the public will also be able to submit feedback on the Garden State Film and Digital Media Jobs Program through the NJEDA’s ERA website (https://www.njeda.com/economicrecoveryact/) between the following dates:
- PUBLIC FEEDBACK OPEN: April 25, 2022
- PUBLIC FEEDBACK CLOSES: May 6, 2022
We welcome constructive input on how to ensure new programs created through and amended by the ERA are structured and administered in a manner that drives opportunities for all residents and communities. Members of the public can do that by sending an email to FilmTaxCredit@njeda.com or through the online portal on the NJEDA’s website.
All feedback received through this process will be assessed and considered when preparing the final version of the rule amendments that is proposed by the Authority for Board approval. Following potential Board approval, there will be a 60-day period for formal public comment.
For more information and to provide written input on the design and implementation of ERA programs, visit https://www.njeda.com/economicrecoveryact/.
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
To learn more about state resources available to New Jersey entrepreneurs and early-stage companies, visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.
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