Yahoo Finance Universal eyeing Alton Towers with new UK theme park and £50bn boost
A proposed Universal theme park could provide a £50bn boost to the UK economy and be open 365 days a year.
Universal Destinations & Experiences (UDX), which is owned by Comcast, has already bought a site new Bedford and is hoping to build Europe’s largest theme park by visitor numbers.
The company is aiming to attract millions of visitors a year to the site which would also feature a 500-room hotel.
UDX acquired the 480-acre site late last year and is slightly smaller than Thorpe Park which is 490 acres. By comparison, Alton Towers is 550 acres.
Ahead of a decision on whether the park will go ahead, Universal has released new figures which set out its case for the theme park having a positive economic impact for the UK.
The company has argued that the site’s net economic contribution is forecast to be £35.1bn over the construction period and first 20 years of operation.
Universal has also said it is estimated to generate up to £14.1bn in net additional tax returns for HM Treasury over the same period.
The business said the project would generate 20,000 jobs during the construction period and, at peak times, there would be 5,000 workers on site.
Once operational, the project is expected to initially create 8,000 new jobs, Universal said, a figure which it added would rise over time.
Page Thompson, president, new ventures of Universal Destinations & Experiences, said: “A world-class theme park and resort from Universal has the potential to generate billions in economic benefit for the UK, by creating thousands of high-quality jobs and attracting millions of new visitors to the country.”
