Work is scheduled to start next year creating 20,000 construction jobs with 5,000 on site at the peak.

The site of the former Kempston Hardwick brickworks will be transformed during a five-year construction programme with the new theme park due to open in 2031 and 8.5m visitors expected in its first year.

Prime Minister Keir Starmer said: “Today we closed the deal on a multi-billion-pound investment that will see Bedford home to one of the biggest entertainment parks in Europe, firmly putting the county on the global stage.

“This is our Plan for Change in action, combining local and national growth with creating around 28,000 new jobs across sectors such as construction, AI, and tourism.”

The development, working with Bedford Borough Council, will be the first Universal-branded theme park and resort destination in Europe and will be part of a larger 476-acre entertainment resort complex.

Proposed plans include a world-class theme park with several themed lands featuring Universal’s distinct brand of immersive storytelling, thrilling rides, innovative attractions and exciting entertainment, all utilising sophisticated and advanced technology. Initial resort plans also feature a 500-room hotel and a retail, dining and entertainment complex.

Mike Cavanagh, President of Universal parent company Comcast Corporation, said: “We could not be more excited to take this very important step in our plan to create and deliver an incredible Universal theme park and resort in the heart of the United Kingdom, which complements our growing US-based parks business by expanding our global footprint to Europe.”

The government will commit to a major investment in infrastructure around the site to support the delivery of the project and ensure it is well connected and easily accessible.