When Walt Disney Company CEO Bob Iger announced at the earnings call last week that Disney planned on spending $17 billion and adding 13,000 new jobs, the internet was on fire with possible rumors about what could be coming soon. But now, Iger’s vision for the next decade could be coming into more precise focus.
A recent article from Caroline Reid, the entertainment reporter focusing on movies and theme Parks, at Forbes Magazine suggests that a fifth Walt Disney World Theme Park is already in the works and that this new project would help ease some of the tensions between Disney and Florida Governor Ron DeSantis.
Related: The War is Over, and Disney Has Beaten DeSantis
The war with DeSantis began in former-Disney CEO Bob Chapek’s era. A time that both DeSantis and Disney fans would like to forget. After DeSantis signed into the law the “Don’t Say Gay” bill, Chapek, under pressure from Cast Members, spoke out against the bill. DeSantis responded by stripping the Reedy Creek Improvement District of its governing powers and installing the Central Florida Tourism Oversight District.
Disney delivered a knockout blow to both Governor DeSantis and the Central Florida Tourism Oversight District by stripping it of all its power before the end of the Reedy Creek Improvement District’s oversight.
And now, Iger seems to have delivered a bit of an olive branch to DeSantis, promising to hire 13,000 Floridians and investing $17 billion in the local economy. With DeSantis expected to announce a run for president in the near future, those jobs and that money would be a nice feather in his cap.
Back to the money. Seventeen billion is a lot of money, significantly more than would be needed to improve one of its current Parks. When Disney built Star Wars: Galaxy’s Edge in Hollywood Studios, it cost around $1 billion in 2019. Disney will also have completed a significant renovation of EPCOT by the end of 2023, so adding to that Park seems unlikely.
Even building dozens of new attractions would use up all that money. Reports estimate that building the new Tron Lightcycle/Run at Magic Kingdom cost around $225 million. Star Wars: Rise of the Resistance cost around the same amount. So, to spend all that money, Walt Disney World would have to build dozens of new thrill rides and attractions.
Hiring an additional 13,000 employees also suggests that a new Park is coming. The Walt Disney World Resort currently has 77,000 Cast Members, making it the largest single-site employer in the United States. Adding a large number of Cast Members points to not just a Park but hotels surrounding the new area.
Walt Disney World covers 27,520 acres or 43 square miles, with only approximately half of the property currently developed. There is plenty of room for Disney World to expand and still have room for any future projects.
Building a fifth Park would also solve another one of Disney’s problems: Universal Studios. Disney’s chief rival in Central Florida already has a third theme Park in the works, with its Epic Universe opening in the summer of 2025. A Disney announcement could take away some of Universal’s thunder and blunt its takeover of the Theme Park industry.
This announcement can solve so many of Iger and Disney’s problems that it just makes sense to build another Park. However, $17 billion is a lot of money to pay to cure your headaches.
Now, there is only one mystery left to solve: what will be the theme of this new Park? Let’s hope that Iger and Disney don’t keep us waiting too long for that.
We will keep you updated on all the breaking news at Disney Fanatic.
Disclaimer: The opinions addressed in this article are the writer’s and may not reflect the sentiments of Disney Fanatic as a whole.