Walt Disney Co. plans to spend $1 billion on their parks in Anaheim from the end of 2017 to 2024. (Photo: AP)
Things are about to get bigger and better at Disneyland, as the theme park announces plans for a $1 billion dollar makeover.
With a 3-2 decision from the Anaheim City Council, The Walt Disney Co. recently won a 30-year renewal of a special admissions tax ban at their parks Anaheim, Calif. The parks’ current exemption was granted in 1996, but was set to expire on June 30, 2016.
No Disney park in the world currently has an admission tax.
So how did Disney score such an amazing deal? The Walt Disney Co. is getting the break because they intend to spend the money on a $1 billion expansion of their parks in Anaheim. This makeover will not only lead to new attractions, it will also mean more jobs for the people of Anaheim.
Disney is already the biggest employer in the city, providing 28,000 jobs for those in surrounding communities. A study commissioned by Disney projected that the new project will support an additional 2,600 jobs a year, and create 2,100 permanent positions.
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Disneyland and Disney California Adventure Park employ 28,000 people in Anaheim. (Photo: AP)
Additionally, the project is expected to bring $15 million in annual city tax revenue.
But not all locals are thrilled at the tax extension.
Mayor Tom Tait serves on the City Council and opposed extending the tax exemption. He believes the long term effects will have a negative impact on the community.
“This just shouldn’t happen,” Tait told the Orange County Register. “I think, down the road, people will rue this day. Other people will look at us and say that we gave away the people’s right to vote for a gate tax.”
Disney has not specified if Disneyland and Disney California Adventure Park will receive upgrades. But we do know that the project will include a new 5,000-space parking structure.
The company plans to begin the makeover at the end of 2017 and finish the renovation in 2024.
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