(CTN News) – Universal Pictures has said that a Hollywood theme park it plans to develop in Bedfordshire, England, will be open 365 days a year and will generate approximately £50 billion in economic benefits for the UK.
Universal Destinations & Experiences, owned by US telecoms corporation Comcast, Sky’s parent company, intends to build on a 192-hectare (476-acre) site in Kempston Hardwick near Bedford. The corporation has the opportunity to buy an additional 25 hectares.
The theme park is intended to attract millions of visitors each year and will contain a 500-room hotel as well as a dining area free to individuals who do not have a theme park ticket.
Rides, shows, and places “based on the most popular films, video games, and stories that people have enjoyed for decades” such as Shrek and Mario Kart will be among the park’s experiences.
According to Universal, construction is expected to create 20,000 employment and an additional 8,000 jobs once open, with more jobs likely to follow over time. The corporation has vowed to give its employees a decent wage.
According to Universal’s research, which was conducted in accordance with Treasury economic appraisal rules, the resort would generate approximately £50 billion in economic benefits for the UK.
The net economic contribution is expected to be £35.1 billion during construction and the first 20 years in operation. The analysis estimated that it might produce up to £14.1 billion in higher tax returns over the same time period.
Universal is still performing due diligence and hopes to make a decision on the project by the end of the year.
The new park will be built on the site of Kempston Hardwick brickworks, the world’s largest brickworks that closed in 2008 and was demolished in September 2021. Construction is expected to take 5-6 years.
According to the firm, 92% of 6,000 persons polled over a four-week public engagement process in May approved of the theme park. They stated that they had “been delighted by the enthusiasm and overwhelmingly positive responses provided throughout the public engagement period” .
Universal’s president of new initiatives, Page Thompson, stated that a world-class theme park and resort could create thousands of high-quality employment and draw millions of tourists to the UK, potentially generating billions of pounds in economic gain.
He spoke to Sky News: “We’ve spent the last decade looking all over Europe and the United Kingdom for locations, and we think this is the best location we’ve ever seen.”
Universal currently operates five theme parks across the world, including parks in Hollywood, California and Orlando, Florida, as well as locations in Japan, China, and Singapore.
Disneyland Paris, along with the accompanying Walt Disney Studios Park, is Europe’s largest theme park, attracting almost 15 million visitors annually.