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Universal Destinations & Experiences, the theme park company owned by US media giant Comcast, is in talks with UK officials over tax and infrastructure incentives to secure a multi-billion pound resort in Bedford.
Universal has acquired about 500 acres of former brickyard land in England’s Midlands region as a potential site for Europe’s largest theme park, similar to the company’s U.S. sites in Orlando and Hollywood.
People familiar with the project said Comcast’s decision to greenlight the project will depend in part on discussions with government officials about economic incentives to reduce the risks of building the large park.
They warned that Comcast could still explore other sites in Europe or elsewhere in the world. The amount of incentives under discussion is unclear.
Universal has estimated that building and operating the park could generate an economic value to the UK of around £50bn, plus £14bn in taxes, over the first 20 years.
The proposals will be an important test of the Labour Government’s stated commitment to encouraging private investment and its promise to ease planning restrictions to help boost economic growth, while maintaining tight control over public spending.
The Department for Culture, Media and Sport (DCMS) is the government sponsor of the project, but the planning decision will be made by the Department for Housing, Communities and Local Government.
Universal is now working with U.K. government officials on a potential package of tax and other investment incentives, according to two people familiar with the discussions; a decision on whether to proceed with the program is expected by the end of the year.
The site would also require improvements to the surrounding road and rail network to accommodate the influx of tourists to the park; many more travellers are expected to fly into nearby Luton Airport.
DCMS and Comcast declined to comment.
The Labour government is already under pressure from MPs and local authorities to come out in support of a resort that would create thousands of jobs in the area.
In her first words on the project, culture secretary Lisa Nandy wrote to Mohammad Yasin, Labour MP for Bedford and Kempston, last month, saying she would soon meet Universal executives to discuss the planned theme park.
He said Universal’s proposed investment would be a “significant boost for both tourism and the creative industries” and could “transform the area, stimulate growth and create thousands of jobs”.
He added that “this Government intends to prioritise engagement with companies interested in making significant investment in the UK.”
In a separate letter to Prime Minister Sir Keir Starmer, leaders and chief executives from six neighbouring local authorities collectively approved plans for the theme park and resort project.
The letter states that “the scale of the project will help make the South East Midlands a major tourist destination in Europe and the world.”
Laura Church, chief executive of Bedford Borough Council, said: “We know how important it is that this Universal project gets the green light. The potential theme park and resort is a major tourist attraction, attracting millions of visitors a year, with many expected to come from Europe and overseas.”
Tom Wootton, elected Mayor of Bedford Borough Council, added: “Everywhere I go, whether it’s a local business, a school or just a walk around town, residents consistently express their support for this project.”
