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Disney and DeSantis Reach $17 Billion Development Agreement

Disney and appointees of Florida Gov. Ron DeSantis have approved a significant development agreement that could see Disney invest $17 billion into its Florida properties, potentially including a new theme park. This decision follows the end of a prolonged legal dispute over control of the Disney World district, which provides essential municipal services.

Disney Springs entertainment complex at the Walt Disney World Resort

The Central Florida Tourism and Oversight District board, previously known as the Reedy Creek Improvement District, unanimously voted to accept and approve the revised development agreement. This agreement, which covers nearly 17,000 acres of Disney-owned land, outlines Disney's commitment to significant capital investments over the next 10 to 20 years.

Key highlights of the agreement include:

  • Up to $17 billion in capital investments, with $8 billion committed within the next decade.

  • A focus on local businesses, with at least 50% of goods and services sourced from Florida.

  • A $10 million allocation for attainable housing projects.

  • Provisions for land and environmental conservation contributions.

Public support was voiced by local business owners at Disney Springs, emphasizing the positive impact on local employment and the community. Disney’s Director of External Affairs, Woody Rodriguez, expressed gratitude for the board’s consideration, highlighting the mutual benefits of the agreement.

The final approval for the development agreement is scheduled for a public board meeting on June 12. This agreement marks a new phase of collaboration between Disney and the district, promising economic growth and job creation in Florida.


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