Comcast NBCUniversal and the UK government have committed a combined £7.3bn ($9.8bn) to the creation of Universal’s first European theme park, which will be named Universal United Kingdom Resort.
NBCUniversal will invest over £5bn ($6.7bn) in the resort complex in Bedford, north of London, across an expected five years of construction ahead of the park’s scheduled 2031 opening. It will also invest an additional £1bn ($1.3bn) in capital investment in the first 10 years of operation.
The UK government is supporting the project with £1.3bn ($1.8bn) in regional and local community infrastructure investment for the resort. This will include improved transport links for both local residents and UK and international visitors.
The combined figures represent one of the biggest ever single investments in the UK tourism sector, according to the UK’s Department for Culture, Media & Sport (DCMS).
The DCMS estimates the park will create 28,000 jobs, comprising 20,000 in the five-year construction phase, and 8,000 jobs when the resort opens in 2031.
The theme park and resort are expected to attract millions of visitors per year, including over one million annual overseas visitors.
Enabling works on the Bedfordshire site have begun, with construction to begin soon.
UK chancellor Rachel Reeves and culture secretary Lisa Nandy hosted Brian Roberts, chairman of Comcast Corporation, and Mark Woodbury, chairman and CEO of Universal Destinations and Experiences, at 11 Downing Street to unveil the name and logo for the theme park and resort.
Reeves also visited the site on June 3, meeting with Woodbury and senior Universal Destinations and Experiences executives, and new Universal hires based in Bedford.
“This unparalleled investment is a huge vote of confidence in the UK and puts rocket boosters under our entertainment industry,” said Nandy. “When it comes to creating world-class experiences, the UK is second to none. We’re proud to be backing British industry, investing in local talent and partnering with powerhouses like Universal to create jobs, growth and opportunities across the UK.”
The government’s £1.3bn investment includes a £400m ($538m) grant for the Regional Growth Fund, to be paid once the park and resort are open and £438m ($589m) from DCMS for community infrastructure, to be paid once Universal has completed said infrastructure.
The project is part of the government’s Modern Industrial Strategy plan to increase business investment in the creative industries from £17bn to £31bn by 2035.
“This historic partnership is a special moment for our company as we bring our first Universal theme park and resort to Europe,” said Roberts. “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.”
“Today marks a significant milestone on our journey to bring Universal United Kingdom Resort, featuring immersive storytelling, thrilling attractions and unparalleled creativity and innovation to the UK,” said Woodbury. “This new theme park and resort will create so many new opportunities for the people of Bedford and beyond and allow us to share our distinct experiences with guests from around the world.”
While the UK has several major theme parks including Alton Towers in Staffordshire and Thorpe Park in Surrey, the Universal United Kingdom Resort will be the first dedicated theme park backed by a major US film studio.
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