1888 Studios in Bayonne Receives $400 million Aspire Tax Credit
The building boom in Bayonne continues with the 1888 Studios project, which was just awarded a potential $400 million Aspire tax credit. Not only will this transformative project develop five acres for public use including a park and waterfront walkway, but the studios themselves contribute to the Garden State’s burgeoning film and digital media industries.
The skilled labor needed to operate the studio lot at capacity will bring thousands of jobs to the region while establishing Bayonne, and the state as a whole, as a leader of innovation and municipal collaboration.
MS&B is leading the effort to enhance the project's affordability and competitiveness in neighboring markets by negotiating a long-term tax exemption with the city and the owner. This collaboration sets the stage for the 1888 Studios project to become a cornerstone of Bayonne’s revitalization efforts, encouraging future private investment, preserving historic sites, and transforming underutilized properties into vibrant community assets.
Read more about 1888 Studios and this landmark Aspire award ▶️ https://lnkd.in/eF-VRgnY