DeSantis District and Disney World Unite for $17 Billion Expansion Project

in Walt Disney World

A construction site near a body of water is shown. An animated character, Mickey Mouse, stands on the left side, while a man resembling DeSantis in a suit and sunglasses is on the right. Both have a blurred effect, making them appear superimposed onto the background.

Credit: Inside The Magic

Florida Governor Ron DeSantis and the Central Florida Tourism Oversight District (CFTOD) have united with Walt Disney World Resort for a brand-new $17 billion expansion project. Here’s what we know.

Florida Governor Ron DeSantis speaks on a podium in front of the CFTOD building with Mickey Mouse with his hands over his mouth.
Image Credit: Inside The Magic

DeSantis, CFTOD, and Disney World Unite for $17 Billion Expansion Project, Details Revealed

Additional details have emerged after yesterday’s report concerning an accord between the Central Florida Tourism Oversight District (CFTOD) and Walt Disney World. The collaborative agreement, mutually crafted by both entities, delineates specific stipulations regarding minimum investment allocations spanning the duration of the 15-year accord.

Highlighting the essence of this agreement, District Administrator Stephanie Kopelousos remarked, “Upon board approval, the development agreement underscores CFTOD’s commitment to responsible oversight, public infrastructure, and long-term planning, ensuring taxpayer funds are used efficiently…”

Since the DeSantis campaign took itself out of the Republican candidate race, former Republican Presidential candidate Ron DeSantis now has set his sights on Disney World and mending that broken relationship and has given full support to former President Donald Trump. The Republican Party has seen donations from Disney World recently, sparking anger from Disney’s highly liberal fanbase.

“The proposed development agreement calls for an investment of $17 billion from Walt Disney World over the next 10-20 years. Disney is required to invest at least $8 billion within the first 10 years of the agreement.”

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“…With Walt Disney World’s substantial investments, we anticipate economic growth, job creation, and support for local businesses, alongside environmental stewardship and workforce housing initiatives, benefiting Central Florida’s community.” As per the proposed development agreement, Walt Disney World pledges a monumental investment totaling $17 billion over the ensuing 10-20 years. Of particular note, Disney is mandated to allocate a minimum of $8 billion within the agreement’s initial decade.

In a concerted effort to bolster local enterprises, Walt Disney World has vowed to institute a local business hiring initiative pertinent to all construction-related goods and services encompassing design, development, and construction. This initiative entails allocating a minimum of 50% of the aggregate value of all construction undertakings to Florida-based businesses.

Furthermore, Disney has committed to funding attainable housing projects for at least $10 million. In the interest of transparency, Disney will furnish annual reports delineating capital expenditure investments.

Ron DeSantis (CFTOD) and Mickey Mouse in front of a red "breaking news" screen.
Credit: Inside The Magic

What Does This Mean for Everyone Involved in the New Expansion Project?

In tandem with the prescribed measures, the CFTOD has agreed to perpetuate its provision of infrastructure conducive to district growth, ensuring that landowners endorse projects commensurate with their impact on the District. Moreover, the District pledges to uphold rigorous oversight concerning utilizing taxpayer funds within its purview. It is incumbent upon both Disney and the District to mutually assent to any modifications to the development agreement.

The collaboration between Governor DeSantis, Disney World, and the Central Florida Tourism Oversight District (CFTOD) represents a significant development with far-reaching implications for all parties involved. For Governor DeSantis, the agreement underscores his administration’s commitment to fostering economic growth and development within Florida.

By facilitating a partnership between Disney World and the CFTOD, Governor DeSantis demonstrates his dedication to leveraging public-private collaborations to drive investment, create jobs, and support local businesses.

The $17 billion expansion project signifies a substantial infusion of capital into the Central Florida region, potentially stimulating economic activity and bolstering the state’s tourism industry. For Disney World, the agreement presents an opportunity to expand its footprint and enhance its offerings, solidifying its position as a premier destination for visitors from around the globe.

The substantial investment underscores Disney’s confidence in the long-term viability of the Central Florida market and its commitment to delivering unparalleled experiences for guests.

Ron DeSantis smiling in the foreground, with Sleeping Beauty Castle in Disneyland, a statue of Walt Disney holding Mickey Mouse's hand, and visitors enjoying the park visible in the background. The scene is bright and colorful, capturing a cheerful moment.
Credit: Inside the Magic

Disney demonstrates its commitment to responsible corporate citizenship and community engagement through initiatives such as the local business hiring program and funding for attainable housing projects.

For the CFTOD, the partnership with Disney World represents a strategic collaboration to maximize the region’s economic potential while ensuring responsible oversight and stewardship of taxpayer funds. By providing infrastructure support and maintaining rigorous oversight, the CFTOD plays a crucial role in facilitating the successful implementation of the expansion project.

Additionally, the agreement reflects the CFTOD’s commitment to promoting sustainable growth and fostering partnerships that benefit the local community. Governor DeSantis, Disney World, and the CFTOD will collaborate to execute the expansion project under the agreement’s terms. Through continued communication, coordination, and collaboration, all parties will strive to realize the shared goals of economic prosperity, job creation, and community development in Central Florida.

For Governor DeSantis, the $17 billion expansion project signifies a substantial investment in the state’s economy, driving job creation, economic growth, and increased tax revenue. Disney World gains the opportunity to expand its offerings and solidify its position as a premier tourist destination, attracting more visitors and enhancing its brand reputation.

The CFTOD benefits from increased investment in public infrastructure and the promotion of sustainable growth, ensuring responsible oversight and stewardship of taxpayer funds while supporting the long-term prosperity of the Central Florida region.

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