Janice R. Andrews
The Central Florida Tourism Oversight District (CFTOD), the board of Walt Disney World’s special tax district, has overwhelmingly voted in support of a large development agreement with Disney, in a historic decision that could drastically alter Florida’s tourism scene. This agreement is the first step toward a multi-billion dollar expansion at Disney’s Florida theme parks. It was achieved during a board meeting on Wednesday morning.
Disney intends to invest up to $17 billion in its Florida complex over the next ten to twenty years, according to the CFTOD’s program. The possible development of a large new theme park in addition to two smaller parks, as well as increases in hotel and retail space, are all included in this considerable investment.
The Central Florida Tourism Oversight District (CFTOD), the board of Walt Disney World’s special tax district, has overwhelmingly voted in support of a large development agreement with Disney, in a historic decision that could drastically alter Florida’s tourism scene. This agreement is the first step toward a multi-billion dollar expansion at Disney’s Florida theme parks. It was achieved during a board meeting on Wednesday morning.
Disney intends to invest up to $17 billion in its Florida complex over the next ten to twenty years, according to the CFTOD’s program. The possible development of a large new theme park in addition to two smaller parks, as well as increases in hotel and retail space, are all included in this considerable investment.
This move comes after Disney’s almost $2 billion expansion proposal for its theme park in California was recently approved, indicating the company’s aggressive growth strategy. A week from now, the Florida development agreement will finally be voted on, opening the door for significant adjustments to Disney’s Florida operations.
