Disney closing in on $17 billion development deal
The Walt Disney Co. (NYSE: DIS) announced plans to invest $17 billion in Central Florida more than a year ago — something that has been attributed by some to a softening of relations between Disney and the Central Florida Tourism Oversight Board (CFTOD) which had been contentious since the creation of the governor-appointed board last year.
CFTOD board members on June 5 reviewed a draft of a development agreement attached to that $17 billion. That number has been in play publicly since April 3, 2023, when, during a shareholder meeting, Disney CEO Bob Iger promised that investment as part of a $60 billion cash injection across its properties — at the same time asserting that DeSantis’s actions that created CFTOD were "anti-business" and "anti-Florida."
A year has passed, and Disney remains committed to the investment, but some, like State Sen. Linda Stewart (D-Orange County), attribute the development plan as being a sign of improved relations between Disney and state officials. Stewart said as much to the Orlando Sentinel last week.
