Pinewood Group is to invest around £450 million to develop a hub at its site in Buckinghamshire.

The Screen Hub UK will be based on a 77 acre site to the south and immediately adjacent to the existing world famous studio.

Around 3,500 new jobs are expected to be created.

The Screen Hub UK will include:

• a 350,000 sq. ft film-inspired international visitor attraction – 'Pinewood Studio Experience'

• new film production facilities with 'live' links to the Experience of up to 350,000 sq. ft

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• an educational training and skills hub

• a creative industries business growth hub

• a green campus

The project will implement the proposals contained in the Government's Creative Industries and Tourism Sector Deals and the Buckinghamshire Local Enterprise Partnership Local Industrial Strategy.

Pinewood Group Chairman Paul Golding said: "The Government and Buckinghamshire LEP have recognised Pinewood Studios as a major economic asset to be enhanced with the creation of a screen growth hub for the UK. We are pleased to be able to respond with this scheme. We have been looking at a visitor experience for some time and feel that now is the right moment to bring it forward. The project will strengthen UK film and bring much needed jobs and spending. We hope our planning application will receive widespread support."

Pinewood Group is preparing the application and will start consultations with the local community and wider stakeholders next week.