South West Screen, Bristol City Council and the South West Regional Development Agency want to convert a bottling plant in South Bristol into broadcasting facilities.
The Matthew Clark plant, located in the Hengrove Park regeneration site in South Bristol, was originally earmarked by the BBC as an alternative home for Casualty before the corporation decided to move production out of the city.
It will become available next year and the organisations have recruited a studios consultant to launch a feasibility study into the move, to be completed next month.
They had campaigned against the BBC1 show's move on the grounds that it delivered £25m to the economy and employed 80 local freelance staff. They also argued that it provided a solid production infrastructure that attracted teams working on shows such as Mistresses and Skins to the region.
The studio and production facilities would therefore act as a catalyst for keeping these shows in the city and attracting future drama productions.
“We want to dispel any concerns that the South West is no longer a suitable home for good drama,” said South West Screen chief executive Caroline Norbury.
Around £2m has been invested in offices and build space for sets from drama productions coming to Bristol over the past five years.
The South West region delivered TV productions worth £94.6m to UK broadcasters last year.