Broadcaster Sky has revealed plans to launch TV and film studios in Elstree, which it claims will lead to the creation of more than 2,000 jobs.
Sky Studios Elstree will comprise 14 stages and is expected to open in 2022.
The broadcaster said it would generate an additional £3 billion in the UK’s creative economy and host productions from Universal Pictures and Working Title.
Sky said it would allow several film and TV productions to be made simultaneously, and that the development would support the “next generation of young and diverse creative talent”. The broadcaster added that it would allow for more original content to be made in-house.
Sky group chief executive Jeremy Darroch said: “Sky Studios Elstree will play a pivotal role in bringing the wealth of UK and European talent and creativity to the world.”
He added that it would support the “creation of thousands of jobs in the creative sector”.
The site is being developed by Legal and General, which will also provide financial backing for the project.
A formal planning application will be submitted next year.