A deal for a new Universal theme park in Bedfordshire has been confirmed, which Rachel Reeves says will bring “billions” to the economy and create thousands of jobs.
It will be the first Universal-branded theme park and resort in Europe and is set to open in 2031, when it is expected to become the UK’s most popular visitor attraction.
The government said it will bring an estimated £50bn into the British economy and will create about 28,000 jobs – nearly 20,000 during the construction phase, and 8,000 more in hospitality and the creative industries when it opens.
A 500-room hotel and a retail and entertainment complex is planned alongside the theme park, which will be built on a former brickworks.
Universal, which is owned by Sky News’ US parent company Comcast, expects the 476-acre site just south of Bedford to generate nearly £50bn for the economy by 2055, with 8.5m visitors in its first year.
The plan remains subject to a formal planning decision process from the Ministry of Housing, Communities and Local Government.
Universal has committed to working with local colleges and universities to train students for hospitality jobs.
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Among some of the famous Universal films are Wicked, Minions, Oppenheimer, Bridget Jones, Fast and the Furious, and Jurassic World.
There are five Universal theme parks already: Orlando in Florida, Hollywood, Japan, Beijing and Singapore.
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Downing Street said the deal represents “a major vote of confidence” in the UK economy and the future of partnerships between the UK and the US.
The announcement comes days after Donald Trump’s 10% tariffs on all UK exports set in after British trade teams failed to agree a deal.
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Chancellor Rachel Reeves said: “At a time of global change, this investment is a vote of confidence in Britain as a place to do business.
“Universal’s investment will bring billions to the economy and create thousands of jobs in the UK, putting more money in people’s pockets.”
The government has said about 80% of employees at the theme park are expected to come from local areas, and it will support the “Oxford-Cambridge corridor” revived by the chancellor in January after the Conservatives scrapped plans for an Abingdon-Milton Keynes train link in 2021.
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It will also commit to a “major investment” in infrastructure around the Universal site to ensure it is well connected and easily accessible.
The announcement comes days after the government approved an expansion of nearby Luton Airport.
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Mike Cavanagh, President of Comcast Corporation, said: “We could not be more excited to take this very important step in our plan to create and deliver an incredible Universal theme park and resort in the heart of the United Kingdom, which complements our growing US-based parks business by expanding our global footprint to Europe.
“We appreciate the leadership and support of Prime Minister Keir Starmer, Chancellor Rachel Reeves, Minister for Investment Poppy Gustafsson, Culture Secretary Lisa Nandy and their teams, as we work together to create and deliver a fantastic new landmark destination.”
