This week the Anaheim City Council moved to extend an admissions tax ban to the Walt Disney Co. in exchange for a billion-dollar expansion pledge. The City Council approved a 30-year entertainment tax exemption for Disney.
Disney is required to begin construction by the end of 2017 and finish within 7 years. There are no details as to what this billion-dollar project may include, but it promises to create 1,400 jobs and bring an additional $15 million in annual city tax revenue.
If Disney fails to meet the requirements of the deal, the tax exemption will expire. It could also be extended again if Disney continues to expand.
I’m excited to see what the Walt Disney Co. has planned for Disneyland over the coming years!
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