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The Bayonne property is owned by Chevron, who acquired the 70-acre property in 2001 nearly two decades after the Texaco refinery shuttered.
Chevron is finalizing the sale as Bayonne's city council works to amend the redevelopment plan, allowing for the studio at the site.
The studio would create jobs in the area, as well as a path on the waterfront allowing public access, NJ.com reports, citing Bayonne elected officials.
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