A massive $100 million film and television production complex is coming to the Lower Hudson Valley which should create over 800 jobs.

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Last week, the Board of Directors of the Yonkers Industrial Development Agency granted preliminary approval for financial incentives to build a massive movie studio in Yonkers, Real Estate In-Depth reports.

In September 2019, it was announced Lionsgate Films is building a $100 million film and television production complex. The money approved last week is in connection with the $60 million first phase of the studio complex. According to Real Estate In-Depth, the 109,000-square-foot project will include 70,000 square feet of studio space and nearly 40,000 square feet for ancillary spaces.

"This is a game-changer for the City of Yonkers and is a testament to the ongoing revitalization of our waterfront," Yonkers Mayor Mike Spano told NBC when the news initially broke about the studio. "Yonkers already hosts dozens of on-location shoots every year with film days tripling over the last five years, so building a permanent sound stage here makes perfect sense."

The massive film and television production complex is being built on the parking lot of the iPark Hudson complex, within walking distance of the Metro-North train station in Yonkers

"It's rare to find a studio facility in such a prime New York metropolitan area location, and we look forward to being at the center of film and television production growth in the region," Lionsgate CEO Jon Feltheimer said, according to NBC.

Officials hope to have the facility running in the fall of 2020. The complex is expected to create around 400 full-time permanent jobs and 400 construction jobs.