Plans to create one of the biggest filmmaking complexes in Europe have been drawn up in the North East – creating more than 8,000 jobs during the next decade.

FulwellCain Studios, a joint venture between global entertainment company Fulwell 73 and Cain International, will today announce plans for Crown Works Studios in Sunderland, creating some 8,450 jobs across the North East in the coming years.

The plans are being described by city leaders as “the single most significant development announcement to come out of the North East in decades” and will build on Fulwell 73’s existing presence in the city.

The JV will spearhead the development of a 1.68m sq ft film industry hub at Pallion, with up to 20 premium sound stages.

The scheme, which requires support from Government to go ahead, will be delivered in three phases, with work set to start in 2023 and the final phase set to complete by 2027.

Subject to planning processes, Crown Works Studios will stand on land on the banks of the river Wear.

According to studio bosses, the project will be transformational for the city’s economy, cultivating an eco-system on a scale not seen since Nissan’s investment in Sunderland in the 1980s, while meeting the growing demand for studio space in the UK.

Upon completion, the scheme could generate £336m for the local economy every year, creating jobs and contract opportunities spanning a vast range of disciplines including the trades and manual skills.

Fulwell 73’s partners – Gabe Turner, Ben Turner, Leo Pearlman, Ben Winston and James Corden – have issued a joint statement, which reads: “We are unified in our belief that there is a unique opportunity to bring further high-end production to the UK through this ambitious Sunderland based studio project, putting the region on the map as a global production destination.”

Mr Pearlman, managing partner at Fulwell 73, added: “Fulwell is a company built on family and the North East is embedded in our DNA.

“For over 100 years my family had a business here in Sunderland and called this great city home, so to be able to bring Fulwell back to where the inspiration for our global entertainment company began is a truly humbling experience.

“Through delivering the studios, we will create a long term production industry infrastructure, attract even more significant high end production to the UK and ensure that future generations of North Eastern talent can develop and prosper at home within the region.”

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Crown Works Studios will include production workshops and office space, a vendor village for supply chain businesses, administrative and social facilities, and a multi-storey car park.

The scheme is in addition to already announced plans for Shipyard Studios which will support a wider cluster of film and media activity.

Councillor Graeme Miller, leader of Sunderland City Council, said: “These are absolutely unparalleled proposals that – if approved – will reinvent the Sunderland economy, establishing the city as home to a modern and growing industry that will create jobs and opportunities for thousands of people across the North East.”

Sunderland Central MP Julie Elliott MP, said: “The announcement of plans today for the creation of a major film studio in Sunderland is a landmark moment for the city.

“It is a clear show of confidence in the region and its people, and it it will play a vital part in the future of Sunderland, placing itself on the banks of the Wear, that form some of the foundations of the city we live in today.

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“These plans will bring transformational change to the local and regional economy on an unprecedented scale.

“I have worked closely with many people to support and champion the huge opportunity this investment will bring to our city. I can’t wait to see it come to fruition once the planning process has been completed.

“It really is a great time to live and work in Sunderland, and this announcement shows that the city has a strong future, leading the way in arts and culture, well on its way to becoming a European hub for filmmaking.”