Universal's Potential Epic Resort in Bedford Hangs on Tax Incentives

Comcast's Universal is negotiating with British officials for tax incentives to secure a multi-billion-pound resort in Bedford. The decision is expected by year's end and other locations might be considered if talks fail. The project promises significant economic benefits and job creation in the UK.

Comcast's Universal theme parks division is currently in negotiations with British officials regarding tax and infrastructure incentives aimed at securing a multi-billion-pound resort in Bedford, as reported by the Financial Times on Sunday.

According to sources close to the project, Comcast is expected to decide by the end of the year whether to proceed with the resort, contingent upon talks with government officials regarding the sought incentives. Neither Comcast nor Universal have responded to Reuters' requests for comments on the matter.

The Financial Times further reported that Comcast might consider alternative sites in Europe or elsewhere if negotiations do not succeed, without disclosing the exact incentives being demanded. Last year, Universal acquired a vast 476-acre parcel of land south of Bedford, where they plan to develop the theme park and resort. The project is anticipated to deliver substantial economic benefits, estimated at over £50 billion, and create approximately 8,000 jobs once operational.

(With inputs from agencies.)