In a significant resolution to a prolonged legal and political conflict, Disney and the Florida council overseeing land development at its theme parks have reached a 15-year agreement. This deal, approved unanimously by the Central Florida Tourism Oversight District, marks the end of a contentious dispute that saw both parties at odds over state legislation and governance rights.

As part of this settlement, Disney has committed to investing up to $17 billion over the next 20 years to enhance its Orlando-area resorts and theme parks. This ambitious investment plan includes the potential development of a fifth major theme park, which is expected to create new jobs and boost the local economy significantly.

The conflict began when Disney opposed Florida Governor Ron DeSantis’s “Don’t Say Gay” bill, legislation aimed at restricting the teaching of LGBTQ issues in elementary schools. In response, the Republican-controlled Florida legislature revoked Disney’s longstanding authority to self-govern the land development of its parks, transferring control to a new board appointed by DeSantis.

“This new development agreement paves the way for us to invest billions of dollars,” said Jeff Vahle, president of Walt Disney World Resort. The agreement underscores Disney’s ongoing commitment to the Central Florida region, where it remains the largest private employer, with tens of thousands of staff at its theme parks and headquarters.

The resolution highlights the importance of cooperation between corporate giants and state authorities in fostering economic growth and development. As Disney moves forward with its extensive investment plans, the Orlando area is poised for substantial economic benefits, reinforcing its status as a premier global tourism destination.