And the government agency has given a cash boost to a multi-million pound plan to upgrade the Glasgow's Citizens Theatre.
Creative Scotland has announced it is awarding the circus school an initial £58,750, with a further £941,250 earmarked for the future.
Wasps Artists' Studios aims to redevelop a currently empty area of its HQ building in Glasgow's Merchant City to form The Briggait Creation Centre.
The centre, in the city's former fish market, would provide a training space for a new generation of performers.
Wasps' chairman, Steve Inch, said: "This is an incredible opportunity for Glasgow and for Scotland, to create its own centre of excellence for dance and physical performance.
"There's a huge amount of talent out there."
David Cook, Wasps' chief executive, added: "The Briggait Creation Centre would be there for people who want a career in areas like the circus, dance or street theatre and for people who want to learn performance skills for their own pleasure.
"It would provide a home for the work of several companies which specialise in this work, allowing them the space and facilities they need to expand and thrive.
The initial grant covers the cost of developing the plans for the new centre, which would then have to be approved by Creative Scotland before the second grant is awarded.
Creative Scotland has awarded the Citz £1.5 million towards the £16.5m cost of a planned upgrade of its Gorbals base.
Work is due to start in 2016, provided cash can be raised to fund the project.
It will involve the most comprehensive re-development of the building since it opened in 1878.
Plans include improvement to the public facilities, including renovation of the auditorium, a new bar and cafe, and new rehearsal and studio spaces.