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Ministers have hailed a multi-billion-pound Universal theme park in Bedford as a “vote of confidence” in the UK as the government searches for good news to offset a gloom-ridden first few months of 2025.
On Wednesday, Prime Minister Sir Keir Starmer will confirm that he has closed a deal to secure a new theme park in Bedfordshire that will bring an estimated £50bn boost for the economy after months of negotiations.
The government will commit to a major investment in infrastructure around the site — such as rail and road improvements — to support the delivery of the project. It has not provided a value for the package of investments.
“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 to the UK,” said chancellor Rachel Reeves.
People close to the scheme said that a planning application for the site was expected “imminently”, and would likely be expedited through the process. “This has the support of the prime minister,” said one.
The theme park from Universal Destinations & Experiences, which is owned by US media conglomerate Comcast, is expected to attract 8.5mn visitors in its first year after opening in 2031, which would make it the largest visitor attraction in the UK.
Mike Cavanagh, president of Comcast Corporation, said the development would complement “our growing US-based parks business by expanding our global footprint to Europe”.
The UK government said that the deal was an example of “partnerships between the UK and the US”. Starmer is currently trying to keep a steady relationship with the US despite Donald Trump’s imposition of tariffs.
The theme park is predicted to create 20,000 jobs during construction, with a further 8,000 new jobs across the hospitality and creative industries when it opens in 2031. Universal has committed to working with local colleges and universities to train its hospitality workers.
The development will form a central part of the wider Oxford-Cambridge development corridor, which the government has said it is backing alongside the expansion of nearby Luton airport.
Nick Pettit, senior managing partner at Bidwells, the largest developer in the region, said the government’s support of the airport and theme park showed it was serious about development in the corridor.
The wider Oxford-Cambridge development vision includes the completion of the final phase of the £6bn East-West Rail project that will link the two university cities via Milton Keynes and Bedford.
“It is now in the hands of Starmer’s cabinet to put the infrastructure in place to stitch together the region without delay, beginning with the long-awaited East-West Rail,” said Pettit.
