Comcast NBCUniversal has committed to investing over £5bn ($6.7bn) in the development of a major new theme park and resort in Bedfordshire, north of London, marking its first theme park destination in Europe.
The UK government has pledged £1.3bn to support the project through upgrades to road and rail links and improvements to community infrastructure.
The new attraction, named Universal United Kingdom Resort, will be developed by Universal Destinations & Experiences, and will include a theme park with several themed immersive lands, a 500-room hotel, and a shopping and entertainment complex.
Construction is set to commence soon following enabling works currently under way on a 540-acre site in Bedford, which offers rail links to London and wider connectivity across the UK and Europe.
Universal’s investment is expected to deliver almost 20,000 jobs during construction and an additional 8,000 positions when the resort opens, currently planned for 2031.
The company anticipates that the destination will attract millions of visitors annually, including over a million new overseas tourists, and estimates nearly £50bn in economic benefit for the UK by 2055.
The government funding package includes a £400m grant from the Regional Growth Fund and £438m from the Department for Culture, Media and Sport for community infrastructure, both linked to development milestones.
The Department for Transport will also upgrade the A421 and Wixams rail station at a projected cost of £474m. Payments are conditional on the completion of the infrastructure and the opening of the resort.
Over 100 roles have been filled to date on the project, with more than 33,000 people expressing interest in employment.
Universal reports that about 80% of future staff are expected to come from Bedfordshire and neighbouring areas.
Comcast co-CEOs Brian Roberts and Mike Cavanagh said: “This is a proud moment for our company as we bring the first Universal theme park and resort to Europe.”
To mark the progression, Chancellor Rachel Reeves and Culture Secretary Lisa Nandy hosted Comcast Corporation chairman Brian Roberts and Universal Destinations & Experiences chairman and CEO Mark Woodbury at 11 Downing Street. The event was held to unveil the resort’s name and logo.
The Chancellor also visited the Bedford site, meeting senior company executives and recently hired employees.
Woodbury said: “We have a bold ambition to bring Universal’s innovative and immersive experiences to new audiences. Universal United Kingdom Resort reflects that long-term strategy focused on key markets while continuing to enhance our existing parks and strengthen our position as a destination of choice for guests.”
Universal says it is working with local colleges and universities on training programmes, apprenticeships and internships, aiming to support regional skills development as part of the Oxford-Cambridge Growth Corridor initiative.
The project forms part of the government’s Modern Industrial Strategy, which aims to increase business investment in creative industries and support growth in the sector.
