Bedford is in line for a mega £50billion investment package after the Government closed a deal for Europe's first Universal theme park in the market town.
The project - expected to be finished by 2031 - is expected to generate nearly £50bn for the economy by 2055.
The 476-acre site near Bedford will be one of the largest and most advanced theme parks in Europe, while an estimated 8.5 million visitors are expected in its first year of operation.
The resort will include a 500-room hotel alongside a retail and entertainment complex.
Yesterday, the Prime Minister welcomed Mike Cavanagh, president of Universal's parent company Comcast, to Downing Street
PA
Yesterday, the Prime Minister welcomed Mike Cavanagh, president of Universal's parent company Comcast, to Downing Street to mark the announcement.
Cavanagh was shown computer-generated images of the park, complete with rides, themed areas and a water show.
The site, a former brickworks, will feature attractions likely based on Universal's popular franchises.
Sir Keir Starmer said the attraction will create around 28,000 jobs - 20,000 during the construction period, and 8,000 working on site when it opens in six years' time.
"It is not just about numbers, it's about securing real opportunities for people in our country," he said.
"Together, we are building a brighter future for the UK, getting people into work and ensuring our economy remains strong and competitive."
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The site, a former brickworks, will feature attractions likely based on Universal's popular franchises
UNIVERSAL
Chancellor Rachel Reeves described the investment as "a vote of confidence in Britain as a place to do business".
Labour has promised major investment in infrastructure and transport around the site to support the project and ensure easy accessibility for visitors.
The development ties in with other work around the Oxford-Cambridge corridor - as well as the expansion of Luton Airport.
The proposals to transform the former brickworks site remain subject to a formal planning decision process from the Ministry of Housing, Communities and Local Government.
Universal currently operates five entertainment and resort complexes around the world, including locations in the USA, Japan, China and Singapore.
Mark Woodbury, chairman and chief executive of Universal Destinations and Experiences, said: "Bringing a world-class theme park and resort to the United Kingdom is a tremendous opportunity and is part of our strategy to introduce the Universal brand and experiences to new audiences around the globe."
The announcement comes as Labour chases down growth amid a week of Trump-inspired economic turmoil
GETTYWhile Comcast chief Cavanagh added: "We could not be more excited to take this very important step."
The announcement comes as Labour chases down growth amid a week of economic turmoil - this morning, Donald Trump's tariffs on numerous economies took effect, including a 104 per cent levy on Chinese goods.
And Shadow Business Secretary Andrew Griffith praised Labour for green-lighting the plans, but said the previous Conservative administration "worked closely with Universal Studios to secure the land and help bring forward plans for the new park".
He added: "We're pleased that, despite Labour's economic mismanagement, Universal Studios has committed to investing in Bedfordshire."
