A new project proposed by Disney would add space and jobs.

Walt Disney Co. plans to simultaneously improve its company and the economy.

Golden Oak Ranch in northern Los Angeles County will be the site of the new expansion project that Disney/ABC hopes to soon begin, reports the LA Times. A new production studio will be built to accommodate for the growing need of space to film television shows, movies, commercials, and new media projects.

The new facility will include 12 sound stages, production offices, a commissary and other facilities. In total, the studio will add 216,000 square feet to the amount of space available to Disney.

Not only does the ranch proposal help Disney with space issues, but it also offers hope of an economic boost. An estimated 2,854 production and entertainment jobs would be made available at the facility. Additionally, building the studios would require over 3,000 workers in construction-related jobs.

During the building process, $522 million would be inserted into the economy for construction expenses and every year thereafter would see $533 million in economic activity from the studios.

Applications were filed Wednesday, marking the first step in the approval process. If authorized, the new project would most likely not be completed before 2013.

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