Tag: £5 billion investment

Universal theme park ‘to be UK’s most popular tourist attraction’

The Universal United Kingdom Resort, one of the largest ever investments in the UK tourism sector, will employ thousands and entertain millions of people

  • Comcast NBCUniversal has committed to invest over £5bn in the entertainment resort complex during the expected 5 years of construction, as well as an additional £1bn in capital investment over the first 10 years of operation
  • Government will support the project with an investment of £1.3bn on regional and local community infrastructure to ensure the park can operate successfully, with improved transport links for local residents and visitors from across the UK and abroad
  • Development will create 28,000 jobs between construction and operation across a range of industries, including in Industrial Strategy growth driving sectors like creative, technology, hospitality and construction, and is estimated to generate nearly £50bn of economic benefit for the UK
  • Future entertainment resort complex will be named ‘Universal United Kingdom Resort’ as Chancellor visits site where construction will soon begin and meets first UK team members employed on the project

One of the largest ever investments in the UK tourism sector has been agreed between the government and Comcast NBCUniversal to build an entertainment resort complex, the Universal United Kingdom Resort, in Bedfordshire that will employ thousands and entertain millions of people. 

Featuring a world-class theme park and resort, the project will be developed by the company’s Universal Destinations & Experiences segment and is the brand’s first major destination in the UK and Europe. 

Comcast NBCUniversal’s investment will also bring nearly 20,000 jobs during construction and a further 8,000 jobs when it opens in 2031. With immersive storytelling, thrilling attractions and hospitality, Universal expects the site to generate nearly £50 billion of economic benefit for the economy by 2055. 

The government’s investment unlocks regional transport and infrastructure improvements that will maximise the benefits of the development and enable wider growth across the region. The theme park and resort is expected to attract millions of visitors each year including more than a million additional overseas visitors.

With enabling works on the site now in progress and construction soon to begin, today marks a significant milestone in Universal advancing this landmark project. Over 100 people in the UK have been employed to work on the project, with Universal receiving expressions of employment interest from over 33,000 individuals. Approximately 80% of employees at the theme park and resort are expected to come from Bedfordshire and the surrounding regions.

To mark this milestone, Chancellor Rachel Reeves and Culture Secretary Lisa Nandy hosted Brian Roberts, Chairman of Comcast Corporation, and Mark Woodbury, Chairman and CEO of Universal Destinations & Experiences, at 11 Downing Street to unveil the name and logo for the theme park and resort.

Additionally the Chancellor visited the site this morning (Wednesday) where she met with Mr Woodbury and other senior executives from Universal Destinations & Experiences, as well as many of Universal’s new hires already based in Bedford.

The government is committed to making the UK the best place in the world for investors. Universal choosing Bedford for its first European park is a testament to the strength of the UK’s visitor offering and creative industries, a demonstration that the UK is open for business and the modern Industrial Strategy in action. The package announced today is likely to be one of the most significant investments made in the United Kingdom during this parliament.

Separately, Universal and the government are also cooperating to maximise benefits to local colleges and universities. For example, Universal has committed to world-class training opportunities for the next generation of its workforce, including through a range of apprenticeships and internships. This aligns with the government’s ongoing work to unleash the potential of the Oxford-Cambridge Growth Corridor and lay the foundations for Bedford to become an innovation hub. 

As part of its total £1.3 billion investment, the government will provide a grant of £400 million through the exceptional Regional Growth Fund and the Department for Culture, Media and Sport will provide a grant of £438 million to invest in new community infrastructure to maximise the benefits of the development and support growth across the region.

These grants will only be paid once Universal has completed the community infrastructure (in the case of the DCMS grant) and officially opened the theme park and resort.

The Department for Transport is also going ahead with plans to upgrade the strategic road and rail network, on the A421 and at Wixams station, which will provide wider resilience and improved connectivity within the region, at an expected cost of £474 million.

As one of the key investment commitments in the UK’s Modern Industrial Strategy (2025), this project directly supports the government’s plan to increase business investment in the creative industries from £17 billion to £31 billion by 2035, contributing to the broader UK growth mission.

The UK’s Creative Industries are a global engine of innovation and growth – generating £124 billion for our economy and supporting over 2.3 million jobs. As a cornerstone of our modern Industrial Strategy, this sector drives creativity, competitiveness, and opportunity.

Secretary of State for Culture, Media and Sport Lisa Nandy said: This unparalleled investment is a huge vote of confidence in the UK and puts rocket boosters under our entertainment industry. 

“When it comes to creating world class experiences, the UK is second to none. We’re proud to be backing British industry, investing in local talent and partnering with powerhouses like Universal to create jobs, growth and opportunities across the UK.”

Chancellor of the Exchequer Rachel Reeves said: “This landmark investment in the heart of the Oxford to Cambridge Growth Corridor will unlock nearly £50 billion of economic growth and create tens of thousands of jobs across Bedfordshire in construction, hospitality, creative and technology sectors.

“Our own investment in transport and infrastructure means that local people will benefit — improving connectivity, backing our creative industries, and bringing millions of visitors to the UK from across the world.

“We have the right economic plan — working with global investors and local leaders so we can deliver jobs, opportunity and long‑term prosperity for Britain.”

Brian Roberts, Chairman of Comcast Corporation, said: “This historic partnership is a special moment for our company as we bring our first Universal theme park and resort to Europe.

“We have a long and proud history in the United Kingdom through Sky and NBCUniversal and look forward to creating a spectacular destination that supports the UK creative industries and brings joy to millions for generations to come.”

Mark Woodbury, Chairman and CEO of Universal Destinations & Experiences, said: “Today marks a significant milestone on our journey to bring Universal United Kingdom Resort, featuring immersive storytelling, thrilling attractions and unparalleled creativity and innovation to the UK.

“This new theme park and resort will create so many new opportunities for the people of Bedford and beyond and allow us to share our distinct experiences with guests from around the world.”

Business and Trade Secretary Peter Kyle said: “This landmark investment is a powerful vote of confidence in the UK’s economy and world-leading creative industries. 

“Through our modern Industrial Strategy, we are backing high-growth sectors and partnering with leading global investors to drive long-term growth, create opportunities, and ensure the benefits are felt in communities across the UK.”

Starmer backs “true patriots” to lead UK renewal with £5bn investment

New powers let residents reclaim beloved assets and drive patriotic renewal, ‘street by street’ – delivering on the Plan for Change

  • Millions to benefit as communities revive high streets, parks and public spaces
  • Up to £5 billion Pride in Place programme puts local people across 339 neighbourhoods in the driving seat of national renewal, as government chooses unity over division
  • New powers let residents reclaim beloved assets and drive patriotic renewal, street by street – delivering on the Plan for Change

Neighbours and families across the UK will lead the revival of their communities, as the Prime Minister launches a landmark £5 billion Pride in Place programme — backing the ‘true patriots who build their communities up, and choosing unity over division’. 

As part of the fund, 169 areas will receive £2 million every year for a decade, giving long-overlooked communities the certainty and control they need to plan for the future. A further 95 areas will receive an immediate £1.5 million to upgrade public spaces with new green spaces, play areas and sports and leisure facilities.  

From Bootle to Bridgwater, local people will decide how funding is spent — reviving high streets, restoring parks, and breathing new life into pubs, leisure centres and community halls. This is renewal in action, led by the people who know their neighbourhoods best. 

Communities will also gain new powers to seize boarded-up shops, block nuisance businesses, and buy beloved local assets before they close – restoring pride and unity to every corner of the country.  

Yesterday’s announcement is part of the government’s Plan for Change, a decade-long mission to back the people who make their communities thrive. It sits alongside wider work to deliver cleaner, safer streets, create opportunities on every doorstep, and build the homes, roads and GP surgeries people need to thrive. 

Prime Minister Keir Starmer said: “For too long, people have watched their towns and streets decline – powerless to stop boarded-up shops and neglected parks. That ends now.  

“We’re investing in the UK’s future, by backing the true patriots that build our communities up in neighbourhoods across every corner of the country. Because it’s people who bring pride, hope and life to our communities. 

“This is a huge investment, but what matters most is who decides how it’s spent: the neighbours, volunteers and parents who know their communities best – the people with real skin in the game. 

“We’re choosing renewal over decline, unity over division. This is our Plan for Change in action – giving power and pride back to the people who make Britain great.” 

Secretary of State for Housing, Communities and Local Government, Steve Reed said: “Building pride in place starts with people, not politics. Local people know what they want to see in their neighbourhoods – and they don’t need government to dictate it.  

“This plan will spark an historic grassroots movement that will restore local people’s power, boost national pride and help people get on in life across the UK as part of our Plan for Change.” 

The Chancellor of the Exchequer, Rachel Reeves said: “We’re giving local people the power to transform their hometowns. Giving them more control of how money is spent where they live so that together we can invest in Britain’s renewal and build an economy that rewards working people. 

“This £5 billion investment doesn’t just reverse decades of underinvestment in our public infrastructure – it cuts through the bureaucracy by giving local people the power to deliver the change they want to see.” 

This announcement significantly scales up the work already underway in 75 areas, helping communities regenerate and restore local pride. 

The up to £5 billion package includes an additional £3.5 billion to roll out the programme to 169 more areas, each receiving up to £20 million over ten years. 

Separately, 95 areas receive a share of £150 million capital funding to improve public spaces, parks and high streets. 

Local people in the existing 75 areas are already shaping their communities, every project is the result of local people’s ideas and priorities—chosen by the community, for the community. It’s the people who know best what their area needs, and their voices are shaping the future of their towns and cities. 

£292 million Pride in Place investment for Scottish neighbourhoods

Scottish Local Authorities backed by Scotland Office to revitalise communities as part of our Plan for Change, with spending decisions in the hands of local people

Local communities are at the heart of Scottish life – and the Scotland Office is backing them with millions of pounds to improve the opportunities and environment for people across the country, the Prime Minister announced yesterday.

The Pride in Place programme will see up to £280 million shared among 12 Scottish local authorities to precisely target areas which can benefit most from funding being made available for a wide range of regeneration projects. Across the UK 169 of the most-in-need communities will benefit.

This includes revitalising high streets and town centres, preserving local heritage, providing housing, creating jobs, boosting productivity and skills, improving health and well-being, creating new transport links, providing education and opportunity and improving safety and security.

And a Pride in Place Impact Fund will see eight local authorities share £12 million to fund the types of changes people have said they want to see. These could include new green spaces, play areas and town centre revitalisation to sports and leisure facilities and the improvement and ownership of key community assets.

Across the UK a total of 95 areas will receive this capital funding.

Scottish Secretary Douglas Alexander said yesterday: “The UK Government is committed to delivering a decade of national renewal for Scotland. Through the Pride in Place programmes we’re announcing today, the UK Government will provide 14 places in Scotland with up to £20 million over 10 years and eight Scottish local authorities with £1.5 million over two years.

“We are providing almost £300 million new direct investment to local authority areas to revitalise local communities.

“The UK Government will be working with local partners to deliver economic growth and l see these improvements made to communities up and down Scotland making them even greater places to live, work and play.”