Another Hollywood heavyweight is setting up shop in New Jersey.

Paramount Skydance has signed a minimum 10-year lease for a major piece of Bayonne's upcoming 1888 Studios, which is set to be a 58-acre production campus being called one of the largest in the Northeast.

Paramount will take over about six acres of that massive complex to hold 23 soundstages, post-production suites, offices, and even a waterfront backlot.

Governor Murphy says the deal cements New Jersey's place as a global powerhouse for film and TV, thanks to generous tax credits the state is offering.

Studios are eligible to receive a tax incentive up to 40 percent for productions filmed here.

That program has helped drive a record $833 million in production spending across the state last year.

1888 Studios, by the way, takes its name from the year Thomas Edison patented one of the first motion picture cameras.

The studio is expected to be up and running by 2028.

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