Most CEOs will know that some cities and countries make it easier than others to set a business up for success. New Jersey has recently emerged as one location that’s gaining a reputation for being a prime spot to start an entertainment company.
Through various tax incentives and initiatives, the Garden State is now one of the biggest players in the USA’s game industry. It’s also gradually becoming regarded as a booming hub for television and film development.
Strategic Investment in Infrastructure
There have been numerous landmark moves in New Jersey’s rise as a global entertainment hub, with Netflix’s redevelopment of the Fort Monmouth military base the latest. The streaming giant is set to purchase 292 acres of land where it will develop 12 sound stages. It has invested $850 million in the location that is set to be its East Coast production hub. This is a huge move, as the film and video company continues to grow on its quest for world domination.
Lionsgate also opened a studio in New Jersey in 2022, which was the first of its kind built in the state using tax credits. With Lionsgate being one of the biggest studios in Hollywood, it’s a huge statement for it to see New Jersey as another prime spot for movie making. The fact that such well-known names have moved to New Jersey could also serve as inspiration for others to do the same.
Welcoming Flourishing Industries
By welcoming the film and television industries with open arms and tax incentives, New Jersey is well positioned to be at the forefront of developments in these sectors within the next few decades. The online casino sector is also one of the biggest up-and-coming industries in the USA, and New Jersey was the first to move towards making those available for its residents.
Indeed, the state is one of the best places to see innovations in the iGaming market, with some of the top sites operating there. Online casino NJ real money sites have state-of-the-art games available from some of the best providers. These include the likes of IGT and Evolution, who use all the latest technology to provide the best playing experience possible. New Jersey has benefited massively from the industry, and it has become one of its greatest sources of revenue.
Workforce and Talent Pipeline
Along with encouraging entertainment companies to set up shop in New Jersey, the state also has a great ecosystem in place to ensure that there will be a constant stream of professionals able to work across various jobs in the industry.
There are workforce development programs in the state, with many of its institutions known for their courses in everything from digital media production to entertainment business management. There’s also the Film Ready program, which ensures local communities are equipped to host productions efficiently.
It’s clear that New Jersey is doing excellent work on all fronts to ensure that the entertainment industry flourishes in the state. In the future, it could be renowned as a global powerhouse in everything from gaming to film.
