Disney Reaches Possible Multibillion-Dollar Investment Deal With Florida

The Sunshine State has long been known as the premiere destination for theme park fans — particularly those destined for the massive Walt Disney World resort. And despite the dispute between Disney and Florida Gov. Ron DeSantis in recent years, there still appears to be room for the “Happiest Place On Earth” to get even happier.

A tentative agreement

According to recent reports, representatives from the Walt Disney Company and DeSantis’ office have discussed plans that could see a massive $17 billion investment in the state. That would not only include renovations and expansions to existing Disney properties, but could also result in a fifth theme park being built in the area.

Details came to light during a public hearing this week featuring Central Florida Tourism and Oversight District planning and engineering manager Katherine Luetzow.

The sum would be doled out over the course of up to 20 years with nearly half that amount being invested over the next decade.

Local and state businesses were prioritized with a provision that they provide at least half of the goods and services needed for these projects.

Among the other provisions discussed as part of the ongoing negotiations is $10 million for housing and credits related to damage to wetlands and endangered species.

Burying the hatchet

This prospective breakthrough likely wouldn’t have been possible if not for the decision between Disney and the DeSantis administration to end their feud, which had been playing out in court for some time. At the root of the dispute was the aforementioned district.

Previously known as the Reedy Creek Improvement District, it had been afforded generous tax breaks and wide-ranging authority over services from utilities to law enforcement and firefighting.

When both sides dropped their lawsuits, the foundation was set for the latest round of investment talks.

Chris Agee June 6th, 2024

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