Construction is set to soon start on Universal‘s U.K. theme park and resort, which will create 28,000 jobs and boost the British economy by nearly £50 billion ($67bn).
In details released to The Hollywood Reporter on Wednesday, Comcast NBCUniversal is confirmed to invest over £5 billion ($6.7bn) in the newly-named Universal United Kingdom Resort throughout its five-year construction, as well as an additional £1 billion ($1.3bn) in capital investment over its first 10 years when finally open — which is expected to be in 2031.
The U.K. government will invest another £1.3 billion in regional and local community infrastructure, the department for culture, media and sport (DCMS) has said, “to ensure the park can operate successfully.” This will include improved transport links for local residents and visitors from across the U.K. and abroad.
The deal between the British government and Comcast is one of the largest-ever investments in the U.K. tourism sector, boasting nearly 20,000 new jobs during construction and a further 8,000 jobs in operation.
It is also the brand’s first major destination in Europe. The “world-class” theme park and resort is expected to generate nearly £50 billion for the U.K. economy by 2055 through millions of annual visitors.
