A tax credit program to encourage the movie, TV, and digital media industry to produce their shows in New Jersey could be restored and expanded.
Former Governor Chris Christie was skeptical about the program's economic benefits when he suspended it in 2010 and it expired in 2015.
Lawmakers are considering a replacement measure that would provide tax credits of $75 million a year for film productions and $10 million for digital media content.
Senator Paul Sarlo say the incentives could help New Jersey compete with New York City and Philadelphia in attracting movie and TV productions.
"Is the dollars a little bit rich? Yeah. But it's a good starting point. And clearly we're going to have to work with the administration on this to get to right number that they feel comfortable to get this program back up and running."
Senator Declan O’Scanlon has concerns about the size of the tax credits, but he voted to advance the legislation.
“We’re never going to compete with some of these other states, but talking to folks in the industry saying you don’t have to do that, you just have to show that the state is receptive to the industry and they’ll come.”
Senator Loretta Weinberg says restoring the program would help New Jersey residents who work in the TV and movie industry.
"I've heard from these folks who live here who want to be able to work here who don't like the idea that they're being sent to Georgia for two weeks to work on a film or TV series."
Weinberg believes the sales and income tax generated from added productions in the state would more than make up for revenue lost through the tax credits.