Staff Reports
Disney and Governor DeSantis have come to terms, potentially paving the way for Disney to inject an impressive $17 billion into its Florida resort. Under the proposed deal, Disney plans to enlarge its Florida resort by constructing a fifth major theme park within Disney World, two more minor parks, and thousands of new hotel rooms. Additionally, Disney would increase its restaurant and retail spaces by 20%.
As part of the agreement, Disney would contribute 100 acres of its land for infrastructure initiatives and commit to assigning at least half of the construction tasks to Florida-based companies. Additionally, Disney would allocate $10 million of the $17 billion investment towards affordable housing initiatives in central Florida.
After @GovRonDeSantis and Disney put aside their legal fight against each other, Disney may be investing $17 billion into its Florida resort. https://t.co/fVwWVyxmwI
— Washington Examiner (@dcexaminer) June 5, 2024
The proposed agreement is set to last for 15 years and is being reviewed by the Central Florida Tourism Oversight District, which is currently under the control of DeSantis-appointed supervisors. The district has been recently overtaken by DeSantis picks, indicating a shift in power away from Disney supporters.
This accord follows a legal dispute between Disney and DeSantis arising from Disney's opposition to the "Don't Say Gay" law enacted by DeSantis in 2022. The legislation barred schools from providing instruction on sexual orientation and gender identity for younger grade levels, a stance publicly contested by Disney. Nonetheless, with the resolution of numerous legal conflicts in March, the two parties have come to terms.
Overall, the potential investment from Disney would bring substantial economic growth to Florida and create numerous job opportunities for its residents. This move aligns with DeSantis' commitment to promoting economic development and job creation in the state.
