According to a report from The Irish Times, plans are at an advanced stage and the proposal is being well received by studios in Hollywood. The plan is expected to be announced in the near future and could create in the region of 3,000 jobs.
Windmill Lane Studios founder James Morris and film producer Alan Moloney confirmed that they are developing proposals to build studios at this site, alongside 3,000 homes.
It's said that the plan has been in the pipeline for almost five years with an Irish-American consortium. U2's Bono has lobbied the government in support of the project. Mr Morris and Mr Maloney told The Irish Times that they were delighted to have the backing of Bono.
“Ireland is now a very attractive location to produce television series and movies. Ireland needs the infrastructure to capitalise on the growth of the film and digital industries and the growing international success of Irish film-making talent,” their statement concluded.