In a landmark move, Disney and Florida Governor Ron DeSantis have officially resolved their long-standing dispute by striking a deal that enables a massive 15-year development plan for the Walt Disney World Resort in Orlando. This agreement marks a significant moment as one of Florida’s largest employers commits to a substantial investment in the region.
The feud between Disney and DeSantis began in 2022 when then-CEO Bob Chapek voiced his opposition to a state bill that sought to limit classroom discussions on sexuality and gender for younger students. The law, often referred to in public discourse as the “Don’t Say Gay” law, sparked much controversy and acted as a catalyst for the rift between the entertainment giant and the state government.
Under the new agreement brokered with the Central Florida Tourism Oversight District, Disney has pledged to invest a minimum of $8 billion at Walt Disney World Resort over the next decade, with a total commitment reaching $17 billion over 10 to 20 years. Beyond financial investment, the plan includes a significant affordable housing initiative, aiming to address local needs and ensure that at least 50% of Disney’s spending on the expansion benefits Florida-based businesses.
Among the ambitious expansion goals, Disney has secured the rights to build a fifth theme park—sure to excite fans and create many new jobs. Additional plans extend to expanding retail and office space, and constructing approximately 14,000 new hotel rooms, increasing the overall resort capacity to nearly 54,000 rooms.
Jeff Vahle, President of Walt Disney World Resort, expressed enthusiasm, saying, “The new agreement paves the way for us to invest billions of dollars in Walt Disney World Resort.” This sentiment underscores Disney’s ongoing commitment to maintaining its status as a central facet of Florida’s economy and a premier destination for visitors from around the globe.
This deal follows a settlement reached in March, which put an end to a high-stakes lawsuit between Disney and DeSantis’ appointees over control of the special district encompassing the theme parks. With this chapter closed, attention now turns to the transformative impact this extensive investment will bring to the local economy and Disney’s offerings.
We’d love to hear your thoughts on this monumental deal. What are you most excited about the expansion plans? Share your thoughts in the comments and don’t forget to spread the joy by sharing this story!
For more details on the original report, you can check out the article on MarketScreener [here](https://www.marketscreener.com/quote/stock/WALT-DISNEY-COMPANY-THE-4842/news/Disney-Florida-s-DeSantis-end-spat-with-deal-on-15-year-expansion-plan-46962566/).
