Universal announces UK theme park name, pledges to invest $10 billion

The UK’s first Universal theme park and resort, which was unveiled early last year and is set to grow into one of the largest theme parks globally, now has an official name and a financial commitment in what the UK government has described as “one of the largest ever investments in the UK’s tourism sector”.

Officially unveiled on Wednesday and scheduled to open in 2031, Universal United Kingdom Resort will be located just south of the English town of Bedford on 476 acres of land purchased by Comcast in 2023. It was officially approved in December. Now, six months later, the full spending has been revealed.

Comcast NBCUniversal has pledged to invest more than 5 billion pounds ($6.7 billion) over the five years it is expected to take to build the resort, and an additional 1 billion pounds ($1.3 billion) over the first 10 years of operation, according to the British government.

Meanwhile, the government announced it would support the project by investing £1.3 billion ($1.7 billion) in local and community infrastructure through improved transport links for local residents and visitors from across the UK and abroad. This package will be one of the most significant investments made in the UK during this Parliament.

Given the taxpayers’ money being spent, both the government and NBCUniversal have been touting the economic benefits of the Universal United Kingdom Resort. They say the resort will create 28,000 jobs between construction and operations and generate around 50 billion pounds ($67 billion) for the UK by 2055.

Lisa Nandy, Secretary of State for Culture, Media and Sport, said: “This unparalleled investment is a huge vote of confidence in the UK and gives rocket momentum to our entertainment industry.”

“When it comes to creating world-class experiences, the UK is second to none. We’re proud to support British industry, invest in local talent and work with powerhouses like Universal to create jobs, growth and opportunity across the UK.”

Construction of the entertainment complex is due to begin soon, with more than 100 staff in the UK already working on the project.

“This historic partnership is a special moment for our company as we bring the first Universal theme parks and resorts to Europe,” said Comcast Chairman Brian Roberts. “We have a long and proud history in the UK with Sky and NBCUniversal, and we look forward to supporting the UK’s creative industries and creating a great destination that will bring joy to millions for generations to come.”

added Mark Woodbury, president and CEO of Universal Destinations & Experiences, which is developing the resort.

“Today marks a significant milestone in our journey to bring Universal UK Resorts, with its immersive storytelling, thrilling attractions and unrivaled creativity and innovation, to the UK. This new theme park and resort will create countless new opportunities for the people of Bedford and beyond and allow us to share our unique experiences with guests around the world.”

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