 The group involved with Steel Work Studios were very optimistic about the studio noting that in 2007 TV and film was a $1-billion industry in Ontario and 40% of that was in Hamilton, Ontario.Three months later the facility closed down and no official word was given for its closure.In recent years there has been talk of converting the facility on Victoria Avenue North that was one time home of the Otis Elevator Company and Studebaker plant into a Mega-Film Studio.