Disney And DeSantis Tourism Board Agree On $17 Billion Development Deal

The development deal authorizes Disney to add more rooms to its Central Florida hotel and expand its retail and restaurant space.

Ron DeSantis’ Central Florida Tourism Oversight District approved a $17 billion development deal with Disney.

Members of the board unanimously pushed through the landmark deal Wednesday. The approved development deal will allow the entertainment company to spend billions of dollars on its Walt Disney World properties over the next 10 to 20 years. It will also permit Disney to build a fifth major theme park and two minor theme parks.

The development deal also authorizes Disney to add more rooms to its Central Florida hotel and expand its retail and restaurant space.

In return, Disney must award at least 50% of its related construction work to Florida-based businesses and fund at least $10 million toward “attainable housing projects.” It must also donate at least 100 acres of its land to the tourism district.

The deal comes amid strained relations between Disney and Florida Gov. DeSantis, whose administration took control of the tourism district from Disney last February.