The DeSantis-Appointed CFTOD Approves the $17 Billion Disney World Development Plan
In a testament to just how far the relationship between the two sides has come, the Central Florida Tourism Oversight District (CFTOD) has unanimously approved a 15-year development plan that will see Walt Disney World spend $17 billion in new construction.
The deal requires Disney to spend at least $8 billion in the next 10 years.
Photo: Disney
“Walt Disney World is inextricably intertwined with the fabric of the state of Florida,” CFTOD board member Brian Aungst Jr. told the Orlando Sentinel. “The success of Walt Disney World is the success of Central Florida and vice versa. This agreement provides us a lasting, sustainable and prosperous future.”
Will Disney Build a Fifth Park?
The massive amount of money that Disney plans to invest in Walt Disney World has led many to speculate that they could be planning on building a fifth gate. The new deal does allow Disney to operate up to five “major” theme parks.
While the exact details of Disney’s plans remain unclear, the company has already teased plans for a new Tropical Americas land in Disney’s Animal Kingdom and an expansion Beyond Big Thunder Moutain in the Magic Kingdom.
Photo: Disney
“This new development agreement paves the way for us to invest billions of dollars in Walt Disney World Resort, supporting the growth of this global destination, fueling the Florida economy, and allowing us to deliver even more memorable and extraordinary experiences for our guests,” said Jeff Vahle, president of Walt Disney World Resort.
A New Chapter in Florida-Disney Relations
The new deal comes just months after Disney and Florida Governor Ron DeSantis agreed to put aside their differences and work together. The two sides had previously been battling, in both the courts and the press, over Disney’s opppoistion to Florida’s Parental Rights in Education law (which critics dubbed “Don’t Say Gay”) and DeSantis’ subsequent dissolution of Disney’s Reedy Creek Improvement District.
Photo: Also CFTOD
After the latest development deal was approved, Charbel Barakat thanked DeSantis.
Photo: Also The Wall Street Journal
“The governor’s tireless efforts bore major fruit today and will pay dividends for this district and the Central Florida community for years,” he said.
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