Disney’s $17 Billion Development Plan Approved: What It Means for Florida and Travelers

After years of tension, the feud between Walt Disney World Resort and Florida Governor Ron DeSantis appears to be cooling down. The Central Florida Tourism Oversight District committee, appointed by DeSantis, has greenlit Disney’s massive new development plan. This ambitious project promises to inject billions into the Orlando resort over the next 15 years.

Walt Disney World sevelteen billon dollar development plan approved

Disney’s Ambitious New Development Plan

Disney’s new development plan is a game-changer, with some speculation that it might even lead to the addition of a fifth Disney park at Walt Disney World Resort. The plan outlines an investment of approximately $17 billion over the next 10-20 years. This continues the trend of revamping and revitalizing attractions across Disney World. Recent updates include Tiana’s Bayou Adventure and various enhancements throughout EPCOT.

Economic Impact and Job Creation

The 5-person district board gave the green light due to the significant economic benefits for Florida. Disney estimates this plan will create around 13,000 jobs, boosting the state’s economy and increasing tax revenues. A key stipulation is that at least 50 percent of the construction work must be done by Florida-owned businesses, ensuring local involvement and economic growth.

Support from the Hospitality Industry

Robert Agrusa, President and CEO of the Central Florida Hotel & Lodging Association, strongly supported the development plan at the June 12 hearing. Agrusa highlighted Disney’s crucial role in Florida’s economy, especially in the hospitality sector, which employs nearly 450,000 people in Central Florida.

“Today, I stand before you in support of the approval of the Walt Disney World Parks and Resorts developers agreement. It’s no secret that Disney is not only an economic engine for Florida but, more importantly, for the nearly 450,000 hospitality employees across the Central Florida region,” Agrusa stated.

Positive Impacts on the Local Workforce

Agrusa emphasized that nearly 40 percent of the local workforce is in the hospitality industry. Disney’s $17 billion investment over the next 10-20 years will significantly benefit this sector by attracting more visitors and creating new business opportunities.

According to a new study by Oxford Economics, Disney supported more than 263,000 jobs. They generated about $6.6 billion in taxes and contracted with about 2,500 small businesses. It adds that Disney employed about 98,000 Florida residents, directly supporting 12 percent, or 1 in 8 jobs, in Central Florida. The study also concludes that if it weren’t for Disney, Florida would go from being the 21st state with the highest unemployment rate to the 49th highest in the country.

Minnie Mouse at Walt Disney World to show that It says Disney played a role in supporting more than 263,000 jobs, generated about $6.6 billion in taxes, and contracted with about 2,500 small businesses. It adds Disney employed about 98,000 Florida residents, directly supporting 12 percent or 1 in 8 jobs in Central Florida.

Great News for the growth of Walt Disney World

The approval of Disney’s $17 billion development plan marks a promising new chapter for Walt Disney World Resort and Florida. This massive investment will enhance Disney’s parks’ magic and provide substantial economic benefits, job creation, and business opportunities for the local community.

Keep an eye on our blog for more updates on this exciting development and other travel news!