Universal in talks over UK incentives for Bedford theme park

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Universal Destinations & Experiences, the theme parks business owned by US media giant Comcast, is in talks with UK officials about tax and other infrastructure incentives to secure a multibillion pound resort for Bedford.

Universal has acquired about 500 acres of former brickworks in England’s Midlands region as a potential site for Europe’s largest theme park, similar to the company’s US sites in Orlando and Hollywood.

People close to the project said Comcast’s decision on whether to give the scheme the green light would in part depend on talks with government officials over economic incentives to de-risk the building of the large park.

They warned Comcast could yet explore other sites in Europe or elsewhere in the world. The amount of incentives under discussion is not clear.

Universal has estimated the park could generate close to £50bn of economic value to the UK in its construction and operation, and £14bn in taxes, over the first 20 years.

The proposals will be a major 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 also maintaining a tight grip on public spending.

The Department for Culture, Media and Sport (DCMS) is the government sponsor for the project but the decision over planning will rest with the Ministry of Housing, Communities and Local Government.

Universal is now working with UK government officials over a potential package of tax and other investment incentives, according to two people close to the discussions, with a decision on whether to go ahead with the scheme expected before the end of the year.

The site would also need improvements to the surrounding road and rail networks to help bring holidaymakers to the park, with many more travellers expected to fly to nearby Luton airport.

DCMS and Comcast declined to comment.

The Labour government is already under pressure from local MPs and authorities to come out in support of a resort that would bring thousands of jobs to the area.

In her first words on the project, culture secretary Lisa Nandy last month wrote to Mohammad Yasin, Labour MP for Bedford and Kempston, saying that she would meet executives from Universal soon to discuss the planned theme park. 

She said that the proposed investment by Universal would be a “significant boost to both tourism and the creative industries” and could “transform the area, drive growth and create thousands of jobs”.

She added that “this government intends to make it a priority to engage with businesses who are interested in making significant investments in the UK”.

In a separate letter sent to Prime Minister Sir Keir Starmer, the leaders and chief executives of six nearby local authorities collectively endorsed the plans for the theme park and resort project.

In the letter, they said that “the project’s scale will help set England’s South East Midlands as one of the foremost visitor destinations in Europe and the world”. 

Laura Church, chief executive of Bedford Borough Council, said: “We know the importance of this Universal project getting the green light. The potential theme park and resort serve as a major draw for tourists, attracting millions of annual visitors, with many projected to come from Europe and overseas.”

Tom Wootton, elected mayor of Bedford council, added: “Everywhere I go, whether it’s a local business, a school, or just walking around town, residents are constantly expressing their support for this project.”