The new studio is scheduled to open its doors to productions in 2024.
U.S. investors Hackman and Square Mile Capital Management are furthering their involvement in productions on Irish shores, after their acquisition of Ardmore Studios and Troy Studios in August 2021.
Deadline report that they are now developing a €300 million studio complex called the Greystones Media Campus, which would consist of 670,000 square feet spread across 44 acres, including 14 sound stages, making it the largest studio in Ireland.
According to the report, this would effectively double the number of high-end film and TV production stages in Ireland, and create around 1,500 new jobs in the process.
On the announcement, Minister for Finance Paschal Donohoe said:
"This joint venture by the Ireland Strategic Investment Fund and its business partners will enhance Ireland's ability to capitalise on the high demand for content by promoting our country as a location for both foreign and domestic producers."
Michael Hackman, the CEO of Hackman Capital Partners, said the following about the new studio:
"We see Ireland as a premier destination for content creators across the globe, and we’re committed to seeing it grow exponentially. There is enormous talent here, not to mention a stunning landscape and some of the industry’s best financial incentives for filmmakers."
As per the report, the audiovisual sector in Ireland is currently worth over €1 billion to the economy, with that set to rise quite a bit once the new studio opens its doors.
Main image via Deadline
