New Jersey is accelerating its efforts to carry TV and movie productions to the Backyard State with the growth of its tax incentive program. As a part of that effort, PR veteran Darryl Isherwood has been appointed senior adviser for financial improvement communications and the sector lead for movie and digital media on the New Jersey Financial Improvement Authority.
New Jersey Gov. Phil Murphy signed an growth of the state’s tax credit score program this week that expands this system’s assist of digital media productions, growing the cap to $30 million, from $10 million, and it adjusts the phrases governing how a lot of that content material needs to be produced in New Jersey to qualify for the credit score.
The laws signed this week additionally guarantees to broaden the state’s whole manufacturing tax incentive program by an extra $100 million, beginning in fiscal 12 months 2025. New Jersey established this system below Murphy’s management in July 2018, and expanded it once more in 2020.
“This laws will be sure that our state stays a high vacation spot for a few of our nation’s most vital movie and TV productions,” stated Murphy stated when the invoice was signed Jan. 12. “The New Jersey Movie & Digital Media Tax Credit score Program has introduced quite a few productions to our state, creating jobs for New Jerseyans, and bringing in cash that’s being spent with native companies. We stay up for attracting much more productions to our state with the expanded tax credit and enhancements that this laws supplies.”
New Jersey’s success in bringing manufacturing corresponding to Steven Spielberg’s “West Aspect Story,” “The Many Saints of Newark” and CBS’ “The Equalizer” has strengthened the necessity for the state to have an envoy for this system, therefore Isherwood’s appointment.
“Movie and tv characterize an enormous progress alternative for New Jersey’s financial system, and Darryl has already been a key a part of Gov. Murphy’s technique to draw new productions and studio improvement,” stated Tim Sullivan, CEO of the New Jersey Financial Improvement Authority.
Isherwood joined the Financial Improvement Authority in 2019. Earlier than that, he spent 5 years as senior VP for politics and policy-focsed PR agency Mercury Public Affairs.
(Pictured high: 2021’s “West Aspect Story”)