Comcast Corp. (NASDAQ:CMCSA), through its NBCUniversal division, is making one of its biggest international investments yet, committing more than £6 billion ($8 billion) to build its first major Universal theme park and resort in Europe.
The project, officially named Universal United Kingdom Resort, was announced on Wednesday. The resort will be built in Bedfordshire, England, and is expected to open in 2031.
According to the UK government, Comcast will invest more than £5 billion ($6.8 billion) during the five-year construction period and an additional £1 billion ($1.35 billion) during the first decade of operations.
The British government also pledged £1.3 billion ($1.7 billion) for roads, rail links and other infrastructure improvements needed to support the project.
The development is expected to create about 28,000 jobs, including 20,000 construction jobs and 8,000 permanent positions once the resort opens. Officials estimate the project could generate nearly £50 billion in economic benefits for the UK by 2055.
