AssetID: 53848883
Headline: UNCAPTIONED: Disney and DeSantis End Conflict With Deal on 15-Year Expansion Plan
Caption: Disney and DeSantis End Conflict With Deal on 15-Year Expansion Plan. Disney and the Florida governor have been at odds since 2022, when Disney's former CEO, Bob Chapek, criticized Florida's "Don't Say Gay" law. From that point on, Gov. DeSantis seemed to do whatever he could to make it difficult for Disney to operate and expand in Florida. But the two parties have finally reached an agreement to end their feud, Reuters reports. The Walt Disney World Resort will be allowed to continue development in the Orlando area for the next 15 years. The company said it would shell out at least $8 billion over 10 years, and $17 billion over the next 10 to 20 years. Disney will also grow its affordable housing initiative and make sure that at least half of its spending for the project goes to Florida businesses. Additionally, the company will be allowed to build another theme park, add more retail and office spaces and expand its hotel rooms by about 14,000. Disney President Jeff Vahle issued a statement. "This new development agreement paves the way for us to invest billions of dollars in Walt Disney World Resort, supporting the growth of this global destination, fueling the Florida economy, and allowing us to deliver even more memorable and extraordinary experiences for our guests.", Jeff Vahle, Disney president, via statement. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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