Local

Epic Universe promises to boost Central Florida’s economy, just how big will the impact be?

ORANGE COUNTY, Fla. — In just 4 months, Universal’s Epic Universe will officially open and Orange County is getting ready to capitalize on new tourism demand.

WATCH CHANNEL 9 EYEWITNESS NEWS

On Thursday, Channel 9 captured new aerial video of the park showing all the construction underway.

Epic Universe promises 5 new worlds to explore, and some roller coasters could be seen already up and running at the theme park on Thursday.

According to Universal Orlando Resorts, Epic Universe will feature “Super Nintendo World,” “How to Train Your Dragon - Isle of Berk,” “Dark Universe,” “Celestial Park,” and “The Wizarding World of Harry Potter — Ministry of Magic.”

READ: Universal Orlando shares inside look of Stella Nova Resort at Epic Universe

As crews make progress inside the park, excitement is building outside the parks and across Central Florida.

Windermere based entrepreneur Derek Lewis is an investor in luxury vacation rental company Getaway Society and also a franchise owner of Big Dave’s Cheesesteaks. He told Channel 9 he believes the park will be a boost to business.

“We’re banking on this increased travel coming to town. I think it benefits many categories, many different industries. You just have to be ready for it,” said Lewis.

According to NBCUniversal, new crew members are already being hired to fill a variety of jobs across the 750 acre park.

READ: Universal Orlando shares first look inside new ‘Harry Potter’ attraction at Epic Universe

In a press release, NBCUniversal stated that Universal Orlando already employs 25,000 people and will hire an additional 14,000 team members as part of Epic Universe, including professional, technical, culinary and other specialized positions.”

" The company currently contributes more than $302 million in annual state and local taxes – a number that will nearly double when the new theme park opens,” said the company via press release.

While it’s hard to project the exact economic impact Epic Universe could bring, Orange County’s Comptroller says historical data on Tourist Development Tax (TDT) collections may help paint the picture.

The tax is one of the biggest revenue generators for Orange County, and is sometimes called the “bed tax,” since it comes from a 6 percent tax on hotel stays or short-term rentals.

READ: Universal Orlando releases new details about Epic Universe’s ‘Harry Potter’ land

Orange County Comptroller Phil Diamond says recent theme park openings have consistently resulted in a jump in TDT collections.

" Animal kingdom opened in 1998 and in that year at TDT went up by about 8%. Islands of Adventure at Universal opened in 1999, and in that year, TDT went up by about 2%. And then the Harry Potter portion of it opened in 2010 and it went up by about 4%,” said Diamond.

Diamond noted even it the opening doesn’t lead to a jump in collections, the theme park will help diversify the attractions already available to Orlando’s more than 75 million annual visitors.

“It really helps solidify and keep the entire market in a good place. And what I mean is people want to see new stuff,” said Diamond, “I think you have to refresh what you’re doing occasionally. And I think that’s really good no matter what.”

See our past Epic Universe coverage below:

Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.


0