"BROOKLYN, NY - Red Hook and Bushwick are set to become the city's newest filmmaking hubs, with $550 million in studio projects fueled by booming content demand and attractive government incentives. The New York City Economic Development Corporation, the Industrial Development Agency, and real estate investor Bungalow Projects have finalized deals totaling $552 million to bring state-of-the-art film and TV production studios to Brooklyn."
"A 2021 study from the Mayor's Office of Media and Entertainment found that New York City's film and television industry supports over 185,000 jobs, generates $18.1 billion in wages, and contributes $81.6 billion to the local economy. Beyond sheer scale, the industry offers high-paying career opportunities, with average salaries around $121,000-roughly a third higher than the citywide average-and pathways for skilled workers without college degrees."
"Two major Brooklyn studios are being developed by Bungalow Projects' founding partners, Susi Yu and Travis Feehan, with backing from Bain Capital. Echelon Studios Red Hook will rise six stories and cover 246,000 square feet on the block bounded by Ferris, Wolcott, and Conover streets near the East River. It will feature four sound stages, supporting spaces, and a 56,000-square-foot underground garage."
The city, the Industrial Development Agency, and Bungalow Projects closed $552 million in deals to build two Echelon Studios in Red Hook and Bushwick. The projects are expected to create roughly 2,400 construction and ongoing operations jobs and leverage government incentives amid rising content demand. A 2021 city study shows the film and television industry supports over 185,000 jobs, generates $18.1 billion in wages, and contributes $81.6 billion to the economy, with average salaries near $121,000. Bungalow Projects, backed by Bain Capital, will deliver large, multi-story facilities with multiple sound stages and substantial support spaces.
Read at Brooklyn, NY Patch
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