Disney and the Central Florida Tourism Oversight District have finally gotten their act together and are moving forward. Last night, the board unanimously voted to approve the 15-year agreement that could allow a fifth gate, new hotels, and two “minor theme parks” to be added to the Walt Disney World Resort.
Disney promised to invest up to $17 billion in Florida as part of the agreement, but it is over the next 10-20 years. Given how slow they are to build one ride, even if they announced a fifth gate, it could take a decade or more to actually build it.
However, if they want to stay competitive with Universal Orlando they may have to open a fifth gate.
As part of the deal, Disney will invest $10 million in “attainable housing” and ensure that at least half the value goes to local construction and Florida-based businesses.
The dispute between Disney and the new Board seems to be resolved, and things can finally move forward. All of this could have been avoided in the first place, but it’s seemingly fixed now.
Board Supervisor Brian Aungst Jr. said that it was “the day we have all been very much looking forward to. Walt Disney World is inextricably intertwined in the fabric of the state of Florida. And the success of Walt Disney World is the success of Central Florida, and vice versa.”
Walt Disney World Resort President Jeff Vahle also offered a comment saying, “This new development agreement paves the way for us to invest billions of dollars in Walt Disney World Resort, supporting the growth of this global destination, fueling the Florida economy, and allowing us to deliver even more memorable and extraordinary experiences for our guests.”
It will be interesting to see what Disney does. Given that they added the fifth gate as an option, I think they will likely announce one. I’m not sure where they are going to put it, though.
What do you think? Comment and let us know!
Source: CNN
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