San Fernando Valley Business Journal

County Supervisors Give OK to NBCUniversal Expansion

By Mark Madler Tuesday, April 23, 2013

NBCUniversal will begin construction this summer on the first phase of a $1.6 billion expansion at Universal Studios Hollywood and the studio lot.

The entertainment and media company is ready to move forward with the project, dubbed the Evolution Plan, following approval on Tuesday by the Los Angeles County Board of Supervisors.

Construction will start in late summer on the Wizarding World of Harry Potter themed land at Universal Studios Hollywood. On the studio lot, upgrades will be made to television production facilities, office space and infrastructure. The total cost of the first phase of the project is about $500 million and will create more than 2,000 construction jobs, the company said.

The Evolution Plan will set the stage for NBCUniversal’s next 100 years in Los Angeles, said President and Chief Operating Office Ron Meyer.

“We are thankful for the support and leadership we have received from both the County and City of Los Angeles and are ready to get started investing in these important tourism and production projects in the next few months,” said Meyer, in a prepared statement.

The L.A. City Council gave its approval for the project in November.

In addition to the Harry Potter attraction and the upgrades to the production and post-production facilities, the Evolution Plan includes more than $100 million investment in transportation and transit improvements.

NBCUniversal is owned by Comcast Corp.