05:44 AM EDT, 06/13/2024 (MT Newswires) -- Walt Disney ( DIS ) secured a 15-year development deal with the government body that oversees the area of its central Florida Disney World theme parks, according to news reports.

Under the terms of the deal, the Central Florida Tourism Oversight District committed to improving and supporting infrastructure in the region in exchange for Disney ( DIS ) investing $17 billion over the next 10 to 20 years to build theme parks and expand hotel rooms and retail space, according to a copy of the agreement.

Disney ( DIS ) will donate land for infrastructure, use Florida companies on half of the projects, and invest in affordable housing.

The deal was unanimously approved by the oversight board, the Associated Press reported.

The agreement follows a March 27 settlement between the state of Florida and Disney World over matters that included the company's objection to the governor's policies on LGBT rights.

Disney ( DIS ) did not immediately reply to MT Newswires' request for comment.

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