Calgary’s reputation in the international film community is set to get huge boost if a proposed 75,000-square-foot production facility gets the budgeting greenlight, according to Calgary MLA Lindsay Blackett.

Blackett, who is culture and community spirit minister, announced Friday that the province has reached an agreement in principle to build a state-of-the-art studio close to Canada Olympic Park.

“We have still to complete funding with the three levels of government and private-sector involvement. There’s several different groups that are interested in it, so we have to do our due diligence and go through that process, but I think it’s an exciting prospect,” he said.

The four hectares of land set to house the studio will be purchased from WinSport Canada, which operates COP.

Projected to cost $26 million, the studio would feature a 30,000-square-foot sound stage and a 45,000-square-foot digital hub, as well as office spaces and green rooms.

Blackett said the location of the studio, next to the Trans-Canada Highway and on the way to the Rocky Mountains, is meant to take advantage of the province’s scenery, which has attracted high-profile productions such as Legends of the Fall and The Assassination of Jesse James.