Fox Corporation has announced the expansion of its Century City, CA studios with the planned development of the FOX Future Studio Lot project that will add nine new sound stages, modern production facilities and commercial office space to its site on West Pico Boulevard. The company says the project will generate $1.5 billion in local economic output and create 4,800 jobs in the City of Los Angeles.

“The FOX Studio Lot is one of the most iconic and treasured production locations in the history of entertainment,” said Fox Corporation CEO Lachlan Murdoch. “The FOX Future project represents a long-term commitment to our industry, to our community, and to the City of Los Angeles.”

The new development will feature nine new sound stages, post-production facilities, basecamps and media campus offices, while honoring the legacy of the property. Fox says the project will generate $9 million in direct annual revenue to LA and advance sustainability efforts with two new LEED-Platinum office buildings, including a new 42-story office building along Avenue of the Stars.