Disney World Announces Plans to Invest $17 Billion Over Next Decade
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Cinderella’s Castle during the Disney Enchantment night show at Magic Kingdom (photo by Eric Bowman)
Disney announced on Monday the company plans to invest
billions of dollars over the next 10 years to revamp Walt Disney World Resort.
According to Click
Orlando, Disney CEO Bob Iger unveiled during a shareholder meeting that the
company plans to invest over $17 billion in the Florida theme park, a move that
will create an estimated 13,000 new jobs directly and thousands indirectly.
The improvements will “attract more people to the state and
generate more taxes,” Iger said.
Despite an ongoing battle with Florida Governor
Ron DeSantis, Disney continues to heavily invest in the state and Iger
reiterated its commitment to growing the relationship. The CEO said, “about 50
million visitors will go through our gates this year alone” and the company is “the
largest taxpayer in the state.”
In February, Disney’s Parks, Experiences and Products
department reported $8.74 billion in first-quarter revenue, a 21 percent
increase from last year. Domestic parks and experiences accounted for about
$6.07 billion of that total.
Earlier this week, Disney World ushered in the return of Narcoossee’s
signature dining restaurant to the Grand Floridian Resort & Spa. Originally
debuting in 1988, the establishment reopens in a newly refreshed space that
leverages the restaurant’s prime spot and panoramic views of Seven Seas Lagoon.
Guests will be welcomed by cast members and witness cerulean details and
artwork taking them on a journey from land to sea.
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