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Those who spoke about the UK government has pledged to spend nearly £500 million on improving transportation and infrastructure to secure the enormous Bedford theme park planned by US media group Comcast.
The scale of taxpayer support from the government under severe fiscal pressure is a sign of Prime Minister Kiel’s desire to attract billions of dollars inward investments to boost the stagnant UK economy.
Comcast, which was considering other countries at its first European theme park location, announced in April that it would build a universal brand appeal on the 500-acre former Brickworks site near Luton.
The then minister indicated that the government was planning to “infrastructure investments” around the site, but the costs to taxpayers have not been previously revealed.
According to government officials, the estimated £500 million improvement costs around the site include around £270 million in rail network upgrades, including WIXAMS’ new stations and roadworks.
Wixams Planned Railway Station Site ©Project Universal/Alamy
The overall package is still negotiated with Comcast, and details may still change, people close to the lecture said.
Total costs could also be higher, they said other factors in the broader support package have not yet been determined, beyond transportation and infrastructure.
Comcast estimates the park will provide a £50 billion increase to the UK economy and will create a total of around 28,000 jobs in the creativity, hospitality and construction industries within the building and when it opens in 2031.
The company has yet to announce which rides will be released at Bedford theme parks. Opened last month in Florida, Universal Epic Resort includes lands themed on how to train Dragon and Harry Potter franchises.
In the first year, around 8.5 million visitors are expected in Bedford. Comcast estimates that the UK will receive an additional £14.1 billion in taxes from the site over 20 years.
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The UK Labour Government competed to ensure inward investment in the UK while committing to dumping local objections into massive development to promote economic growth. This effort has been driven largely by a severe burden on the country’s finances.
The government’s industrial strategy, published Monday, promised a prompt decision to “remove planning barriers” and to get more infrastructure projects from the ground.
Ministers also signed off separately for the Luton airport expansion. This is expected to be needed as one of the main destinations for visitors to the park overseas.
We also hope that the site will become an important part of the Oxford-Canbridge corridor, including delivery of East West Rail.
The Comcast project continues to be the subject of planning decisions from the Ministry of Housing, Community and Local Government, but in April he says he “closed deals” at the theme park, revealing that he is supporting the project.
Comcast, the Ministry of Finance, the Ministry of Transport, Culture, Media and Sports declined to comment.
