Disney and appointees of Florida Gov. Ron DeSantis have reached an agreement that may lead to a $17 billion investment in Disney’s Florida properties, including a potential fifth theme park.
This development follows the resolution of a legal battle concerning oversight of the Disney World district, which handles various municipal services. The Central Florida Tourism and Oversight District board, appointed by DeSantis, approved the revisions to the new development agreement, with final approval expected at a public meeting on June 12.
Image: Amy Humphries/Unsplash
The new 15-year development agreement encompasses nearly 17,000 acres within the district, with Disney planning $17 billion in capital investments over the next 10 to 20 years, including an $8 billion commitment in the next decade.
The agreement also includes provisions for local initiatives, such as a minimum of 50% of goods and services to be sourced from Florida businesses and a $10 million contribution to attainable housing projects.
The proposed agreement aims to benefit thousands of workers and residents in the district. The initial approval was met with support from small business owners at Disney Springs and Disney representatives, who emphasized the positive economic impact of the investment.
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