Disney World Could Open a Fifth Theme Park In $17 Billion Development Plan

Disney World Could Open a Fifth Theme Park In $17 Billion Development Plan

Cinderella Castle Magic Kingdom Walt Disney World

Image: Disney Experiences

Things have seemingly simmered down between the Walt Disney Company and the state of Florida after their years long back and forth over the Central Florida Tourism Oversight District.

Deadline reports a major update that would prove lucrative for Orlando, Florida, as Disney under Bob Iger has filed a new development agreement that would see the Disney Experiences division expanding. The $17 billion investment in the state of Florida which will “hire over 10,000 new parks employees in the state” for over “the next 10 to 20 years,” with a fifth park on the table. Yes, a whole new Disney World theme park to join the current four in the state, and likely to compete with Universal Studios’ upcoming Epic Universe opening.

The report details the proposed agreement’s minimum spend through Disney: “In furtherance of its plans to make significant capital investment in the Project during the term of this Agreement, Disney agrees to make at least an initial capital investment of $8 billion dollars within the first ten (10) years of the term of the Agreement, consisting of capital investment in existing infrastructure, new construction and technology investment.” It mentions the “minimum development” of five parks in Orlando’s tourism hub, which already features four. It also notes that Disney has the option to “convert hotel/motel land use entitlements to up to an additional 225,000 gross square feet of office uses within the District Jurisdictional Properties.”

But before all this becomes official, it still has to be voted on by parties involved, including the Central Florida Tourism Oversight District. This new deal is similar to the “turbocharged” plans Disney CEO Bob Iger and Disney Experiences president Josh D’Amaro set in motion with Disneyland Forward on the West Coast at the Disneyland Resort.

io9 has reached out to Disney Experiences for an official statement on the matter and will update should we hear back.

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