Disney (NYSE: DIS) and Florida Governor Ron DeSantis have reached an agreement to develop the Walt Disney World Resort near Orlando over the next 15 years.

Since 2022, there have been disagreements between DeSantis and Disney CEO Bob Chapek, particularly over legislative efforts by the state government to restrict discussions of sexual and gender issues among elementary school students.

Under terms of the agreement signed with the Central Florida Tourism Oversight District, Disney commits to investing at least $8 billion in the resort over the next decade, with a total investment reaching $17 billion over 10-20 years.

Disney will also expand affordable housing construction and ensure that Florida businesses receive at least 50% of the total investment during expansion. Additionally, Disney is allowed to create a fifth theme park, expand retail and office space, and add approximately 14,000 hotel rooms, bringing the resort's total capacity to nearly 54,000 rooms.

Disney President Jeff Vahle stated in a release that the new arrangement "paves the way for us to invest billions of dollars in the Walt Disney World Resort."

The agreement follows a compromise reached in March this year after Disney and officials appointed by DeSantis sought to resolve litigation concerning ownership of the special district.