According to a third-party Economic Impact Analysis commissioned by Universal’s Destinations & Experiences division, the studio’s first theme park in the UK could contribute upwards of US$63.2 billion to the country’s economy over the next 20 years. 

Universal has purchased more than 476 acres of land near Bedfordshire, England and it intends to build a combined theme park and 500-room resort that will operate all year round. The company also has the option to buy an additional 60 acres if the UK government approves the project with a special development order. 

Breaking the numbers down, the theme park is expected to create 20,000 jobs during construction and 8,000 on-site positions once it’s operational. The report forecasts that this would yield US$44 billion in economic benefit during the park’s first 20 years, and US$17.8 billion in taxes for the HM treasury over the same period. 

Universal, which initially proposed the build in April, conducted a four-week public engagement period the following month and met with 1,500 people at exhibition events and nearly 100 organizations to gather feedback and ideas. Its engagement survey also received more than 6,000 responses, with 92% in favor of the theme park. 

If its plan is approved, Universal will have to compete with some well-entrenched attractions in the region for visitors, including the Alton Towers Resort, Paultons Park, LEGOLAND Windsor, Blackpool Pleasure Beach and Chessington World of Adventures.