Thursday, December 19, 2024

Is a New Disney World Theme Park within the Works? Florida Vote

Followers of Walt Disney World in Orlando, Florida, may be in for a deal with after preliminary votes have been solid in favor of an enormous growth plan for the theme park.

A unanimous settlement was reached in major voting between Disney and the Central Florida Tourism Oversight District (CFTOD) on Wednesday, which might enable for the prevailing theme park to broaden outward, construct extra inns and retail areas, and permit Disney the chance to create a further theme park if the corporate needs.

The venture is predicted to value upwards of $17 billion over the subsequent 20 years.

Associated: Disney to Start Cracking Down on Password Sharing in June

“With Walt Disney World’s substantial investments, we anticipate financial development, job creation, and assist for native companies, alongside environmental stewardship and workforce housing initiatives, benefiting Central Florida’s neighborhood,” District Administrator, Stephanie Kopelousos, instructed Enterprise Insider in an announcement.

This might mark Disney’s fifth main theme park within the space, which at present operates Magic Kingdom, Epcot, Hollywood Studios and Animal Kingdom.

The settlement may also see a minimum of $10 million allotted towards housing initiatives and donating land “for public infrastructure enhancements” within the space. Disney could be required to make use of native contractors for building initiatives ought to the growth plan get authorised and would even be required to ensure that 50% of all contracted enterprise be native to Florida.

Disney has not but publicly disclosed or confirmed the plans for a brand new park, although the rumor mill has been churning for years.

Known as the “fifth gate” by Disney fanatics, Disney CEO Bob Iger referenced the potential venture throughout a Q1 2024 earnings name again in February.

“We’re already laborious at work at mainly figuring out the place we will place our new investments and what they are going to be,” Iger stated. “You possibly can just about conclude that they will be throughout, which means each single considered one of our areas would be the beneficiary of elevated funding.”

Associated: Peltz Sells Disney Inventory After Board Combat, Makes $1 Billion

Disney laid off an estimated 14% of its Pixar crew final month as a part of restructuring and transferring towards extra “high quality” content material over “amount,” particularly on its streaming service Disney+, per Iger’s remarks throughout a This autumn 2023 earnings name.

Disney was up slightly below 10% yr over yr as of Thursday afternoon.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles