Disneyland Expansion Plans Take Another Step Forward

Disneyland's expansion plans leap forward with $2 billion investment.

Disneyland's ambitious expansion plans took another massive step forward this week. Anaheim, California's city council approved the DisneylandForward plan which would see $1.9 billion put toward developing new Disney parks attractions right there in the California suburb. While a final vote remains on May 7, the entire council put their stamp of approval on the 40-year vision for the beloved theme park. Disneyland has about 57 acres sized up for all kinds of new attractions and parking. Some Anaheim residents have voiced concerns. However, the city council is completely on-board after the hours-long meeting this week.

"We are thrilled that the City of Anaheim has agreed to work together on this legacy project," Disneyland Resort President Ken Potrock wrote in a statement, while also noting the final vote in a few weeks. "We look forward to our bright future together!"

Mike Lyster, a city spokesman also offered comment to the Associated Press. "Whenever Disney invests in Anaheim, we see city revenue grow and our economy expand," the spokesperson added. "This is a milestone vote for our city."

Disney Pushing Money Towards The Parks

(Photo: Disney)

All of this news follows a $60 billion commitment to revamp Disney's parks and experiences. The COVID-19 pandemic has introduced challenges across the business world. Disney's Parks have picked up a ton of the foot traffic that subsided for 2020 and 2021. DisneylandForward is just one prong of their proposed plan to getting Walt Disney World and its sister parks all on the same page. One of the big draws is incorporating more IP into the new developments in Anaheim.

Disney has goals that "will explore even more characters and franchises, including some that haven't been leveraged extensively to date, as it embarks on a new period of significant growth domestically and internationally in its parks and resorts."

"We believe that the company's financial condition is strong and that its cash balances, other liquid assets, operating cash flows, access to capital markets and borrowing capacity under current bank facilities, taken together, provide adequate resources to fund ongoing operating requirements, contractual obligations, upcoming debt maturities as well as future capital expenditures related to the expansion of existing businesses and development of new projects," the company's 8-K filing with the SEC read.

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