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Common Locations & Experiences, the theme parks enterprise owned by US media large Comcast, is in talks with UK officers about tax and different infrastructure incentives to safe a multibillion pound resort for Bedford.
Common has acquired about 500 acres of former brickworks in England’s Midlands area as a possible website for Europe’s largest theme park, just like the corporate’s US websites in Orlando and Hollywood.
Folks near the undertaking stated Comcast’s resolution on whether or not to offer the scheme the inexperienced gentle would partially rely upon talks with authorities officers over financial incentives to de-risk the constructing of the big park.
They warned Comcast may but discover different websites in Europe or elsewhere on the earth. The quantity of incentives underneath dialogue will not be clear.
Common has estimated the park may generate near £50bn of financial worth to the UK in its building and operation, and £14bn in taxes, over the primary 20 years.
The proposals will probably be a serious take a look at of the Labour authorities’s acknowledged dedication to encouraging personal funding, and its promise to ease planning restrictions to assist increase financial development, whereas additionally sustaining a decent grip on public spending.
The Division for Tradition, Media and Sport (DCMS) is the federal government sponsor for the undertaking however the resolution over planning will relaxation with the Ministry of Housing, Communities and Native Authorities.
Common is now working with UK authorities officers over a possible bundle of tax and different funding incentives, in accordance with two individuals near the discussions, with a call on whether or not to go forward with the scheme anticipated earlier than the top of the 12 months.
The location would additionally want enhancements to the encompassing street and rail networks to assist convey holidaymakers to the park, with many extra travellers anticipated to fly to close by Luton airport.
DCMS and Comcast declined to remark.
The Labour authorities is already underneath stress from native MPs and authorities to return out in help of a resort that may convey 1000’s of jobs to the realm.
In her first phrases on the undertaking, tradition secretary Lisa Nandy final month wrote to Mohammad Yasin, Labour MP for Bedford and Kempston, saying that she would meet executives from Common quickly to debate the deliberate theme park.
She stated that the proposed funding by Common could be a “vital increase to each tourism and the artistic industries” and will “rework the realm, drive development and create 1000’s of jobs”.
She added that “this authorities intends to make it a precedence to interact with companies who’re interested by making vital investments within the UK”.
In a separate letter despatched to Prime Minister Sir Keir Starmer, the leaders and chief executives of six close by native authorities collectively endorsed the plans for the theme park and resort undertaking.
Within the letter, they stated that “the undertaking’s scale will assist set England’s South East Midlands as one of many foremost customer locations in Europe and the world”.
Laura Church, chief government of Bedford Borough Council, stated: “We all know the significance of this Common undertaking getting the inexperienced gentle. The potential theme park and resort function a serious draw for vacationers, attracting tens of millions of annual guests, with many projected to return from Europe and abroad.”
Tom Wootton, elected mayor of Bedford council, added: “All over the place I am going, whether or not it’s a neighborhood enterprise, a college, or simply strolling round city, residents are continually expressing their help for this undertaking.”
