Comcast has pumped more than £250m into its new Universal theme park in Bedford

Comcast has pumped more than £250million into its new Universal theme park in Bedford.

The US media giant’s commitment ranks among the biggest investments ever made in British tourism, latest accounts show.

Built on the site of a former brickworks, the 540-acre venue is due to open its gates in 2031 with ambitious plans to rival Disneyland Paris as Europe’s most popular entertainment resort.

The theme park will create 28,000 jobs and include a 500-room hotel, a shopping and dining district and rides believed to be based on the James Bond films, Jurassic World and Paddington Bear.

The Government rolled out the red carpet to ensure Comcast chose a British site over other countries.

The theme park sits in the middle of the Oxford-to-Cambridge ‘growth corridor’ championed by former Chancellor Rachel Reeves.

The Government fast-tracked planning permission for the theme park and has committed £1.3bn of taxpayers’ money

Ministers are reportedly planning to press ahead with plans to link the two cities with promised road and rail projects to create ‘Europe’s Silicon Valley’.

The move is designed to reassure investors and voters concerned about Prime Minister Andy Burnham’s plans to shift power and money to the North to promote his ‘growth in every postcode’ agenda.

The Government fast-tracked planning permission for the theme park and has committed £1.3billion of taxpayers’ money, initially earmarking £474million to upgrade local transport links.

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The closest railway stations lack a direct line to London, so a new one is being built with four platforms that will be linked to the capital. The neighbouring A421 trunk road is also being widened and a dedicated junction is being built on it.

Comcast, which owns broadcaster Sky, has committed £6billion to building and running the resort.

Comcast’s spending hit top gear last year, according to accounts filed for its UDX subsidiary behind the project.

More than £59million was spent buying land, while a further £84million went into construction costs.

Another £99million was invested in the previous year, mainly on acquiring land, and £14million in 2023, when Comcast was waiting for planning permission to be granted.

The rest of the Government’s financial support will be paid in two stages. First, the Department for Culture, Media and Sport, led by Lisa Nandy, will transfer a £438million grant once Universal has completed its work on community infrastructure.

Then a £400million subsidy will be paid when the resort opens.

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