Disney has reached an agreement with Florida Governor Ron DeSantis, ending their dispute. Under the deal, the entertainment giant will continue developing the Walt Disney World Resort near Orlando over the next 15 years.
Since 2022, there has been controversy between DeSantis and Disney, one of Florida's biggest employers. At the time, former Disney CEO Bob Chapek criticized a state legislative effort to restrict discussions of sexual orientation and gender issues for young students, which critics dubbed the "Don't Say Gay" law.
According to the agreement with the Central Florida Tourism Oversight District, Disney will invest at least $8 billion in the resort over the next decade, with total investment expected to reach $17 billion over 10 to 20 years.
Additionally, Disney will expand its affordable housing plans and ensure that at least 50% of the expanded spending benefits Florida businesses, according to a statement from the Central Florida Tourism Oversight District.
The agreement also allows Disney to build a fifth theme park, expand retail and office space, and add about 14,000 hotel rooms, bringing the total number of rooms at the resort to nearly 54,000.
Jeff Vahle, president of Disney, stated in a release that the new agreement "lays the groundwork for our multi-billion dollar investment at Walt Disney World Resort."
The agreement was reached after Disney and DeSantis' appointees settled in March, concluding a high-profile lawsuit in state court over control of the special district that includes the Walt Disney World theme parks.
