Bedfordshire is set to benefit from £1.3bn to help deliver regional and local community infrastructure that will support Universal's planned theme park resort, the Government has confirmed.
In a statement yesterday, the Government announced a £1.3bn funding committment to provide enhanced transport links for visitors and members of the community, contributing to the effectiveness of the theme park’s operations.
The investment will consist of a £400m grant delivered through the exceptional Regional Growth Fund, as well as a £438m grant from the Department for Culture, Media and Sport to secure new community infrastructure and drive regional growth.
More than £5bn is to be provided by Comcast NBCUniversal to fund the project over the estimated 5 years of construction, alongside a further £1bn in capital investment throughout the first 10 years of operation.
Planning permission for the theme park was issued by the Government in December last year, with the council revealing this week that work has now begun on the site.
Tom Wootton, Mayor of Bedford Borough said: ‘Our vision has been straightforward: This world-class resort offers an unprecedented opportunity for our town, our borough, our people and our businesses.’
He added: ‘Our region is already a hub for tech industries, and this multi-billion-pound investment will further create new Bedford-based jobs in creative industries, engineering, construction and hospitality.’
Secretary of State for Culture, Media and Sport Lisa Nandy said: ‘We’re proud to be backing British industry, investing in local talent and partnering with powerhouses like Universal to create jobs, growth and opportunities across the UK.’
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