By Laura D.C. Kolnoski
TRENTON – As the revamped bid process to determine whether Netflix eventually builds a new production complex on the former Fort Monmouth plays out, the state has taken actions to boost the state’s film industry.
On Jan. 7, the new position of Senior Adviser for Economic Development Communications and Sector Lead for Film and Digital Media was created and filled within the New Jersey Economic Development Authority. The EDA oversees and participates in the Fort Monmouth Economic Revitalization Authority (FMERA), the agency handling the fort’s redevelopment.
As first reported by ROI NJ, Darryl Isherwood of Clinton, 53, took the new position Jan. 10. A former New Jersey news reporter, editor and marketing executive, Isherwood has been with the EDA as Senior Adviser for Economic Development Communications since March 2019, publicizing the state’s film industry and related tax credit program. The Livingston High School graduate has a bachelor’s degree from the University of Richmond and a Master of Science in journalism from Boston University.
“Darryl has been an important, integral part of the governor’s strategy and he will now be focusing on this full time,” said EDA CEO Tim Sullivan. “Darryl is a particularly skilled individual. It’s a natural synergy for him to play a bigger role.”
Whether or not Netflix is selected as the proposed purchaser of Fort Monmouth’s almost 300-acre Mega Parcel, Sullivan said the state has been receiving inquiries regarding aspects of film and media production from various sources since Gov. Phil Murphy increased efforts to bring such businesses to New Jersey.
“A number of other studios and studio development companies are looking at New Jersey to make a long-term investment,” Sullivan said Jan. 25. “We want brick-and-mortar facilities built in addition to temporary productions. We want 24/7, 365.”
Isherwood’s first week on the job saw him in continuous remote meetings to strengthen ties with existing film industry partners and conducting outreach to others, including those “who haven’t been tapped yet.”
“Studios have reached out interested in coming to New Jersey and want to see what we can offer,” Isherwood said. “I’m serving as a point of contact within the EDA, developing relationships and being there when people have questions in conjunction with the New Jersey Film Commission and developers. It’s a big priority of the governor.”
State Increases Film & Digital Media
Tax Credit Program
On Jan. 12, Murphy signed legislation bolstering the New Jersey Film & Digital Media Tax Credit Program through expanded digital media production tax credits and other measures. The program was first signed into law in July 2018 and expanded in January 2020.
“This legislation will ensure that our state remains a top destination for some of our country’s most significant film and TV productions,” Murphy said in a press release. “The New Jersey Film & Digital Media Tax Credit Program has brought numerous productions to our state, creating jobs for New Jerseyans, and bringing in money that is being spent with local businesses. We look forward to attracting even more productions to our state with the expanded tax credits and improvements that this legislation provides.” Recent productions filmed in New Jersey include the films “West Side Story” and “The Many Saints of Newark,” and the CBS television show “The Equalizer.”
“New Jersey offers significant advantages to productions seeking a vast and diverse on-and off-camera talent pool and an array of authentic sites for all sorts of productions,” Sullivan added. “Gov. Murphy and the Legislature recognize the opportunity the growth of the film and digital media sector represents. Their action…will help New Jersey continue to compete for high-profile productions and the influx of economic activity they bring.”
The bill’s sponsors noted that the Garden State “is strategically located between New York and Philadelphia… but convenience is nothing if it doesn’t also make financial sense to attract business activity.” The bill increases the digital media content production tax credit to 35 percent of the qualified production expenses purchased through vendors located in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer or Salem counties, or 30 percent of all other qualified digital media content production expenses purchased within the state. In addition, the bill increases the cumulative annual limitation on digital media content production tax credits from $10 million to $30 million.
“Since 2018, the southern counties have an extra incentive on the table because those counties have significant economic challenges,” Sullivan told The Two River Times. “This gives the industry confidence to invest here.” Beginning in 2025, the bill also allows an additional $100 million in tax credits for New Jersey film-lease partners from tax credits authorized under other incentive programs.
The article originally appeared in the January 27 – February 2, 2022 print edition of The Two River Times.
