Florida’s tourism oversight district is poised to adopt a new development agreement with The Walt Disney Co. that officials say will bring up $17 billion of investments at Disney World over t…
The Gov. Ron DeSantis-aligned oversight board is planning to take up a proposed development agreement with Disney. Florida’s tourism oversight district is poised to adopt a new development agreement with The Walt Disney Co. that officials say will bring up $17 billion of investments at Disney World over the next 10 to 20 years.
In the 15-year agreement, Disney pledges to fund at least $10 million in affordable housing projects and create a local business hiring program that would award a minimum of 50% of the value of all construction work to Florida-based businesses. The proposed plan comes after Disney and the district agreed in March to settle a lawsuit in state court over development issues.
Disney recently announced it will invest $60 billion into its cruise lines and theme parks around the world, setting off speculation that the entertainment giant could be eyeing a fifth Orlando theme park. Disney’s competitor, Universal Orlando, is set to open a new theme park, Epic Universe, in 2025.The proposed plan seems to be a positive for Central Florida, said Richard Foglesong, a Rollins College professor and author of the book “Married to the Mouse” on Disney World’s origin story.
“Things have been a little smoother over there,” the Orlando Democrat said. “The board hasn’t decided on their own without consultation we are doing this and that. That’s not what is happening now. There is more cooperation.” DeSantis attacked Disney as a “woke” corporation and vowed to end what he called “special privileges” the company enjoyed in Florida. Disney vowed to work to get the law overturned and paused its political giving in Florida.
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