Netflix is about to get a new next door neighbor. Paramount has signed a 10-year lease to occupy a massive amount of studio space in New Jersey, which has recently been home to a highly lucrative and aggressive production tax credit.
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Paramount will commit to taking up space within 1888 Studios in Bayonne, NJ, which is a 1.6 million square foot film and TV production campus currently being built out and is set to be the largest production facility in the Northeast. Paramount specifically will occupy 285,000 square feet of that footprint, giving Paramount-Skydance a big home in The Garden State and making it increasingly attractive as an East Coast production hub…