Disney, DeSantis Expected To Shake Hands on $17 Billion Investment Deal, Marking End to Legal Battle

Surrogates for Governor DeSantis are expected to approve development agreements with Disney on Wednesday, signaling an end to the battle between the state and its largest employer, which was sparked over the state’s crackdown on lessons referencing gender identity or sexuality in schools.The deal would potentially include new additions to Disney World as well as commitments from Disney to help develop housing for its employees, while the state promised to maintain the necessary infrastructure for the park.The feud between Mr. DeSantis and Disney began in 2022 when the Florida legislature passed a law banning lessons concerning sexual orientation or gender identity through the third grade.The ban was expanded to stretch through the 12th grade the next year as Mr. DeSantis attempted to hone his anti-LGBTQ message ahead of his failed presidential bid.The move, widely seen as an attempt to appeal to a conservative Republican primary electorate ahead of what would become an unsuccessful presidential campaign, drew condemnation from Disney.In response, Florida’s government began mobilizing state resources against Disney, culminating in the takeover of the Central Florida Tourism Oversight District board by followers of Mr. DeSantis. The board, which oversees the area where Disney World is located, had been controlled by Disney for decades.The takeover resulted in years of legal battles between the state and the entertainment giant, which were ultimately settled earlier this year when Disney and the board struck a deal.In March, Disney and the board agreed to use a development plan that had been implemented prior to the battle, nullifying the changes made by the outgoing Disney friendly board members. They also agreed to negotiations on a new arrangement in the near future.Both Mr. DeSantis and Disney appeared to claim victory in the outcome, with Mr. DeSantis saying the state was “vindicated” and Disney World leadership saying it was “pleased” with the outcome.The president of Walt Disney World Resort, Jeff Vahle, said in a statement that the “agreement opens a new chapter of constructive engagement with the new leadership of the district and serves the interests of all parties by enabling significant continued investment and the creation of thousands of direct and indirect jobs and economic opportunity in the state.”Now, it appears that the promised investment is here, with Disney and the District announcing up to $17 billion in investment in the district over the next 15 years, possibly indicating an expansion of the park.“With Walt Disney World’s substantial investments, we anticipate economic growth, job creation, and support for local businesses, alongside environmental stewardship and workforce housing initiatives, benefitting Central Florida’s community,” District Administrator Stephanie Kopelousos said in a statement to the Sun.As part of the agreement, Disney promised to award at least 50 percent of the total value of construction contracts to local Florida construction companies.Disney also promised to invest at least $10 million into what it’s calling “attainable housing projects,” though it’s unclear exactly what “attainable” means in this context.The Orlando Sentinel also reports that a fifth theme park could be in the works at Disney World, which hasn’t seen a new park added since 1998, when the Animal Kingdom was opened.The Sentinel cites Disney chief executive Bob Iger’s statement on an earnings call as further evidence. Earlier this year, Mr. Iger said that “every single one of our locations will be the beneficiary of increased investment.”The deal marks an apparent end to the hostilities between the government of Florida, led by Mr. DeSantis, and Disney, which saw Mr. DeSantis threaten Disney’s special relationship with the state and Disney threaten to cut off future investment there.

Disney, DeSantis Expected To Shake Hands on $17 Billion Investment Deal, Marking End to Legal Battle

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