Disney is on the verge of a massive expansion, with plans to invest up to $17 billion in Walt Disney World. This move signals the creation of a new theme park in Orlando, promising significant developments for the renowned resort.
The clash between Disney and Florida Governor Ron DeSantis has been a highly publicized two-year saga. DeSantis, a then-presidential candidate, targeted Disney, the state’s largest single-site employer, for its perceived support of the “woke mind virus.” Disney staunchly opposed these claims through public statements and lawsuits, resulting in a prolonged conflict. Recently, the feud has deescalated, paving the way for Disney’s expansive plans in Orlando.
Massive Expansion Plans for Walt Disney World
While the exact nature of the new park remains unspecified, Disney CEO Bob Iger has hinted at substantial plans. Disney aims to allocate $60 billion for theme park investments over the next decade, spreading enhancements across all its locations, including three new ships for its cruise line.
In a recent quarterly earnings call, Iger emphasized the broad scope of these investments. “You can pretty much conclude that they’ll be all over — meaning every single one of our locations will be the beneficiary of increased investment and thus increased capacity,” he said.
Under a new proposed plan, Disney would invest $17 billion in Walt Disney World, with $8 billion slated for the next decade. This proposal, however, is contingent on approval from the Central Florida Tourism Oversight District. The board gave an initial green light on June 5, with a final decision expected on June 12.
The plan includes adding over 15,000 hotel rooms within the next decade to support up to five major theme parks at the Walt Disney World Resort. Presently, the resort comprises four parks: Magic Kingdom, EPCOT, Disney’s Hollywood Studios, and Disney’s Animal Kingdom. The expansion could introduce a fifth park, a timely move as Universal Orlando prepares to launch its new Epic Universe park next year.
The proposal also allows for up to five minor theme parks. Currently, Walt Disney World operates two water parks that likely fall into this category. Additionally, the plan involves investments in affordable housing in Orlando and land donations to support the necessary infrastructure for the new developments.
Truce Paves Way for Future Development
The journey to this point has been complex. DeSantis initially dissolved Disney’s self-governing status, creating the Central Florida Tourism Oversight District with a board of his allies. Realizing the economic implications of his actions, DeSantis softened his stance. The conflict’s turning point came when Disney’s Reedy Creek Improvement District secured an agreement just before losing control, leading to a truce in March 2024.
The truce saw Disney pausing its lawsuits and DeSantis appointing a more Disney-friendly administrator to the oversight board, described by Politico as a “peace offering.” Both parties agreed to nullify the previous development agreement, clearing the way for a new deal.
The new development deal aligns the interests of both Disney and the Central Florida Tourism Oversight District, enabling Disney to begin its $60 billion investment in theme parks. “We are heading towards a brand new day, and I’m excited about where this is going,” said Charbel Barakat, vice chair of the district’s board. “I only wish we could have gotten here sooner.”
With the final approval expected soon, Disney’s ambitious expansion in Orlando marks a significant milestone, promising new attractions and substantial economic growth for the region.