In a win for the mouse-eared masses and the governor’s mansion both, Disney has announced that it will be adding a fifth park to its Florida kingdom, investing some $17 billion more into the state that only months ago it had multiple suits filed against and had threatened with the prospect of taking its investment dollars elsewhere. The state and Disney, having used many billable hours as a means to negotiate the terms of the new agreement, have established a 15-year deal.
Mike Schneider reports for Fox 35 in Orlando:
The agreement between Disney and the Central Florida Tourism and Oversight District would last for the next 15 years. The district provides municipal services such as firefighting, planning, and mosquito control, among other things. It was controlled by Disney supporters for most of its five decades until it was taken over by the DeSantis appointees last year.
Under the deal’s terms, during the next decade or two, Disney would be approved to build a fifth major theme park at Disney World and two more minor parks, such as water parks. The company could raise the number of hotel rooms on its property from almost 40,000 rooms to more than 53,000 rooms and increase the amount of retail and restaurant space by more than 20%. Disney would retain control of building heights due to its need to maintain an immersive environment.
This deal comes as Disney is reorienting itself, cutting costs by $7.5 billion and focusing its studios away from streaming, a loser, and back on profitable franchises. Disney CEO Bob Iger is busy killing the darlings of his protegé predecessor while deflecting criticism of Disney’s perceived wokeness.
A company that could do no wrong pre-Covid — indulging in all of the DEI trifles that one can indulge in when cruises, hotel rooms, and coffers are full, and loan rates are generous — has been humbled at the box office and by a governor who had little patience with the heavyweight company speaking on matters it had little business, and even less ability, to discuss.
In the end, Florida wins. The Sunshine State stays golden.