The UK Government has announced it will invest £1.3bn in infrastructure to support the development of Europe’s first Universal theme park in Bedfordshire.
The theme park and resort, which will be called the Universal United Kingdom Resort, will create nearly 20,000 jobs during its construction, with a further 8,000 when it opens in 2031.
Comcast NBC Universal has pledged to invest more than £5bn in the project as well as an additional £1bn in capital investment over the first 10 years of the resort’s operation.
Chancellor of the Exchequer Rachel Reeves said: “This landmark investment in the heart of the Oxford to Cambridge Growth Corridor will unlock nearly £50 billion of economic growth and create tens of thousands of jobs across Bedfordshire in construction, hospitality, creative and technology sectors.
“Our own investment in transport and infrastructure means that local people will benefit – improving connectivity, backing our creative industries, and bringing millions of visitors to the UK from across the world.”
The additional investment comes after plans for the park were approved in December last year.
As part of the Government’s investment, a grant of £400m will be provided through the exceptional Regional Growth Fund alongside a grant of £438m from the Department for Culture, Media and Sport to invest in new community infrastructure.
The Department for Transport has plans to upgrade the strategic road and rail network, on the A421 and at Wixams station, which aims to provide wider resilience and improved connectivity within the region, at an expected cost of £474m.
Brian Roberts, Chairman of Comcast Corporation, said: “This historic partnership is a special moment for our company as we bring our first Universal theme park and resort to Europe.
“We have a long and proud history in the United Kingdom through Sky and NBCUniversal and look forward to creating a spectacular destination that supports the UK creative industries and brings joy to millions for generations to come.”
