Minister Heather Humphreys has announced a €1.5m investment in the Tyrone Guthrie Centre in Co Monaghan.
The funding will be accessed to develop new visual artist studio at the Newbliss facility.
The new studio, to be funded under the Shared Island Initiative, is designed to cater for artists of all forms from both Northern Ireland and the Republic.
Minister Humphreys, herself a former Minister for the Arts, said the project will be important as part of the concerted effort to promote arts and culture as well as bringing people together.
She added that art is powerful in so many different ways and the new project is all about promoting the arts and supporting the island's creative artists.
"The investment is also another example of the really positive impact that the Shared Island Unit is having in communities on both sides of the border," the Minister continued. "As a former Minister for the Arts, I know that our creative artists will reap the benefits of this project.
"It will also be a project that bring people together in a collaborative environment, which is what the Shared Island Initiative is all about."
