In an ambitious bid to transform New Jersey into the next Hollywood, financier Arpad “Arki” Busson is spearheading a $1 billion project to build “1888 Studios” in Bayonne. This massive undertaking is set to establish New Jersey as a major hub for film and television production, revitalizing the state’s cinematic legacy.
Busson’s 1888 Studios project, named after the year Thomas Edison invented the motion picture camera, will span 1.5 million square feet and feature 23 soundstages across 17 buildings. Designed by Gensler architects in an Art Deco style, the studio will offer comprehensive production services, a helipad, and a waterfront park. The site, a former Texaco energy plant, will be transformed into a mecca for film production excellence by 2026.
Busson’s venture is supported by partnerships with Louis Moore Bacon’s Moore Capital and the Rothschild family, leveraging New Jersey’s generous film industry incentives. The New Jersey Economic Development Authority (NJEDA) has granted up to 50% of project costs as tax credits, capped at $400 million. This marks NJEDA’s first Film-Lease Partner Facility, providing enhanced tax credits for productions.
“Arki has been a very successful investor and knows opportunity when he sees one,” said musician Jon Bon Jovi, who introduced Busson to New Jersey Governor Phil Murphy. This strategic move is part of Murphy’s broader push to make New Jersey a film industry powerhouse. “The increase in film studio development in New Jersey is a testament to the state’s best-in-the-region incentives and wealth of local talent,” Murphy said.
The project reflects a broader trend in the industry, as streaming giants like Netflix, Amazon, and Disney drive demand for production facilities. New Jersey’s proximity to New York, combined with larger tax credits and a reliable power grid, make it an attractive location for filmmakers. “We understood that on the infrastructure side, New York was lagging,” Busson remarked.
New Jersey’s film industry has seen remarkable growth, with production revenue skyrocketing from $67 million in 2017 to nearly $702 million in 2022. The state hosted 53 feature films and 62 TV projects in 2023, contributing over $550 million in film production revenue. “We hear this from producers all the time, everybody wants to be in New Jersey,” said Steven Gorelick, director of the New Jersey Motion Picture and Television Commission.
1888 Studios is not just a business venture for Busson; it is a symbol of his belief in the potential of New Jersey. “It’s America,” he said. “It’s industrial America. It’s Hollywood. It’s the ’30s, it’s the whole dream.” This project, alongside other developments like Netflix’s $900 million studio at Fort Monmouth and Lionsgate’s complex in Newark, is set to make New Jersey a cornerstone of the film industry in the Northeast.
