LONDON (Reuters) -U.S. media giant Comcast Corp has chosen an area north of London for its first Universal theme park and resort in Europe, pledging to build rides and attractions based on its movie franchises that it hopes will rival Disneyland Paris. 

The group, home to the Jurassic Park and Harry Potter movie franchises, said the park in Bedford would create 20,000 jobs during construction and a further 8,000 across the hospitality and creative industries when it opens in 2031.

It is expected to attract 8.5 million visitors in its first year, a number currently only exceeded in Europe by Disneyland to the east of the French capital.

British Prime Minister Keir Starmer and finance minister Rachel Reeves joined Comcast bosses to announce the theme park on Wednesday.

"This will drive growth here and across the country," Starmer said.

The Labour government has pledged to boost investment in infrastructure since it was elected last year, and Britain's economy needs fresh momentum after the highest tax-raising budget since 1993 in October dented business confidence.

The government has pledged to speed up planning decisions and the announcement comes after it approved the expansion of Luton Airport, which is about 20 miles (32 kilometres) from the Universal site, boosting the area's international connectivity.

"This (theme park) is our 'Plan for Change' in action, bringing investment, bringing opportunity, growth, jobs and, of course, joy to Britain," Starmer said.

Universal has five resorts and parks, in the U.S. states of California and Florida as well as in Singapore, Japan and China, offering rides and attractions based on its movie franchises. 

Plans for the new site include a theme park, featuring several themed lands, a 500-room hotel and a retail, dining and entertainment complex. 

Comcast President Mike Cavanagh showed Starmer the plan in London on Tuesday, saying he "could not be more excited" to create a Universal theme park and resort in the heart of the United Kingdom.

Comcast bought a 500-acre former brickworks in Bedfordshire, about 55 miles north of London, in 2023 and had been in talks with the government since last year. It already owns Sky, which is Europe's biggest pay-TV business.

The theme park and resort are subject to planning permission, the government said.

(Additional reporting by Sarah Young. Editing by Paul Simao and Mark Potter)