Walt Disney World is set to get up to $17 billion in new construction and investment in the next 10 to 20 years under a development agreement approved Wednesday night.
The Central Florida Tourism Oversight District’s board voted unanimously in favor of the 15-year plan, garnering praise from business leaders who say it will generate jobs and draw more visitors to the region.
“Walt Disney World is inextricably intertwined with the fabric of the state of Florida,” said Brian Aungst Jr., a member of the state’s tourism oversight board. “The success of Walt Disney World is the success of Central Florida and vice versa. This agreement provides us a lasting, sustainable and prosperous future.”
Disney likewise praised the deal in a statement.
“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,” said Jeff Vahle, president of Walt Disney World Resort. read more