The deal to build Universal’s new theme park in Bedford was secured with a package of support that included £500 million of public investment in rail and road infrastructure, it has emerged.
The Guardian reported that Comcast, the parent company of Universal, is in negotiations over the final scale of the overall government assistance package, which could be expanded beyond infrastructure investment.
The entertainment company, which had been considering a number of countries in which to build the park, announced in April that it would build the attraction on a 476-acre site at the former Kempston Hardwick brickworks.
The significant government offer of financial support for the project comes amid a push by Keir Starmer and the chancellor, Rachel Reeves, to kickstart sluggish economic growth.
The approximately half a billion pounds in infrastructure spending comprises £270m in rail upgrades including a new station at Wixams, which had originally been planned more than 20 years ago, and about £200m for road works according to the Financial Times, which first reported the arrangement.
Last year, Bedford borough council entered an agreement with Network Rail to construct a two-platform station at Wixams at a cost of £62.6m.
However, local councillors said at the time that if the Universal theme park was approved it would need significantly more investment, with a much bigger four-platform station.
The government has said the theme park, which is due to open in 2031, will bring a £50 billion boost to Britain’s economy and create 20,000 jobs in construction, with a further 8,000 operational roles once it is up and running.
About 8.5 million visitors are expected in its first year of operations, with Comcast estimating the UK will take in an additional £14.1bn in tax over 20 years from the site.
