Disney Has Been Given The Clear To Build A Fifth Park In Orlando
Image Source: Disney Wiki
The Walt Disney Company and the state of Florida have worked together to craft a new development agreement for the company; the Central Florida Tourism Oversight District has approved a development agreement that would see Disney invest up to $17 billion. This comes after the tentative resolution to the Disney/Ron DeSantis lawsuit at the end of March 2024. According to Deadline, the investment is currently said to span “the next ten to twenty years,” with the company being given a deadline to invest a minimum of $8 billion within the first ten.
Within the development proposal, there are plans to build a fifth park addition at the Orlando location; since it has been approved, these plans can move forward. The theme of this potential new park has not been announced, and there is the possibility that it will not come to fruition, but the allowance is there. The Orlando theme park location currently has Magic Kingdom, Hollywood Studios, Epcot, and Animal Kingdom, which is the most recent installment and opened in 1998.
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Image Source: Disney Wiki
The company has some immediate theme park competition to keep up with, adding fuel to the theme park-developing fire. Universal Studios Orlando is opening a new park installment called Epic Universe; a preview is currently open to the public, and the full-fledged opening day will be sometime in the summer of 2025. A whole new major park is not the only option they may take, as smaller park installments and hotel development are on the table as well. No matter which route the company takes, thousands of employees will be hired and the state of Florida will see financial benefits.
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Source(s): Deadline, Forbes, Inside the Magic, Gizmodo
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