The Financial Times reported on Sunday that Universal is negotiating with British politicians over tax and other infrastructure incentives to secure a multi-billion pound resort in Bedford.
Comcast’s decision on whether to move forward with the project depends in part on discussions with government regulators about incentives, according to people familiar with the project. The decision is expected by year’s end.
If the negotiations fail, Comcast may look for other locations in Europe or abroad, the Financial Times said. However, Comcast did not provide any information on the exact amount of the incentives requested.
The UK Universal project is supported by the public
Universal confirmed plans for a theme park in the UK in December 2023 after the company bought a 476-acre site south of Bedford. The new park could generate nearly 50 billion pounds for the UK economy during construction and the first 20 years of operation. Construction would also create a total of 20,000 jobs and the resort could create 8,000 new jobs upon completion.
See also: Universal is coming to the UK: what impact could this have on the intellectual property we see in the new park?
The project was approved by the leaders of six local authoritiesIn a letter to Sir Keir Starmerthe British Prime Minister, the region’s leadership emphasized the potential of the Universal project. Universal also undertook a phase of public engagement for the planned park, which could be open 365 days a year. 92 percent of the 6,000 people surveyed supported the plans.
Lisa NandySecretary of State for Culture, Media and Sport, confirmed the Government’s plans, Meeting with representatives from NBCUniversal in a letter to Mohammad Yasinthe Member for Bedford.
She wrote: “Universal’s proposed investment would provide a significant boost to both tourism and the creative industries, and the company’s choice of the UK as the location for its first European theme park is both a testament to the strength of these industries and proof that the UK is open for business.”
Nandy said: “A world-class theme park on a large scale has the potential to transform the area, stimulate growth and create thousands of jobs.”
