The park's construction is projected to generate nearly 20,000 jobs, with an additional 8,000 roles anticipated in the hospitality and creative sectors once it becomes operational.

Attractions at the new park will be based on popular franchises, including Minions, Jurassic World, Fast & Furious, and Harry Potter.

To support this development, plans include a new railway station on the East West Rail line and upgraded transport links, which have received strong backing from local government.

Shadow business secretary Andrew Griffith acknowledged the previous Conservative government's role in securing the land for the project, while raising concerns about Labour's economic management.

Although the financial details of the multi-billion-pound investment agreement with Comcast, Universal's parent company, remain undisclosed, this marks the conclusion of decades of discussions with UK leaders.

The site for the theme park is strategically located in Kempston Hardwick, near Bedford, making it ideal due to its proximity to major transport links, including Luton Airport.

Universal Studios has unveiled plans to establish its first European theme park in Bedford by 2031, a project expected to inject £50 billion into the UK economy.

The development of the theme park and resort is contingent upon obtaining necessary planning permissions, with construction timelines introducing some uncertainty about the project's completion.

Chancellor Rachel Reeves is also engaging in discussions with Indian Finance Minister Nirmala Sitharaman to bolster trade deals, highlighting the government's commitment to supporting British businesses amid global economic shifts.

While some residents have voiced concerns about potential traffic increases and the impact on local infrastructure, the majority remain supportive of the theme park's development and its economic benefits.

Local residents have expressed enthusiasm about the park, believing it will revitalize the town's economy and create much-needed job opportunities, especially for young people.

Culture Secretary Lisa Nandy hailed the investment as a 'landmark investment' for the UK economy, emphasizing its potential to enhance tourism.