Details about the new development agreement between Walt Disney World and the Central Florida Tourism Oversight District are out. The agreement comes after the two parties reached a settlement in their ongoing lawsuits.

Disney and Oversight District Agreement

Per the 15-year agreement, Walt Disney World will invest $17 billion in the development of its properties in the District over the next 10 – 20 years. They must invest at least $8 billion within the first 10 years.

Disney will create a local business hiring program for all goods and services related to design, development, and construction. This program includes awarding a minimum of 50% of the value of all construction work to Florida businesses.

They will also fund a minimum of $10 million in attainable housing projects.

Disney will provide annual reports on capital expenditure investments.

The District will oversee the use of taxpayer funds. They will continue to provide infrastructure to support growth and ensure landowners support projects at an amount equal to their impact.

Disney and the District must both agree to any changes to the development agreement.

Upon board approval, the development agreement underscores CFTOD’s commitment to responsible oversight, public infrastructure, and long-term planning, ensuring taxpayer funds are used efficiently. 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, benefiting Central Florida’s community.

District Administrator Stephanie Kopelousos

The agreement will be discussed at the District’s June 5 Board meeting.

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