The proposed £750m development, Marlow Film Studios, would have created 4,000 jobs but was turned down for planning permission by Buckinghamshire council in May. The council cited concerns about the impact on the road network and use of the green belt.
The project has received high-profile backing from film-makers including Sam Mendes and James Cameron. The site would have 44,000 sq metres (470,000 sq ft) of new soundstages.
The developers lodged an appeal but now Rayner, in her capacity as secretary of state for housing, communities and local government, has called in the planning decision and ministers will ultimately determine whether the studio development is approved. Rayner has spoken about the need to unblock and overhaul the planning system in the green belt.
The culture secretary, Lisa Nandy, has said the Labour government sees the creative industries as a key part of the economy, generating £125bn a year. This week, she confirmed that the independent film tax credit scheme giving tax relief to independent film productions would go ahead.
Marlow Film Studios said it welcomed Rayner's decision, adding: "This is a project of national importance. The UK's film and TV industry leads the world."
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