Epic Universe to Inject $2 Billion into Florida Economy

Universal’s ambitious new Epic Universe theme park is poised to deliver a massive economic windfall to Florida when it opens its gates on May 22, with projections indicating a staggering $2 billion impact in its first year of operation alone. The park, representing the largest single investment Comcast has ever made in its theme parks business, is already transforming Orlando’s tourism landscape and creating thousands of new jobs across the region, according to CNBC.

Located on 750 acres just minutes from Universal’s existing properties, Epic Universe will be the first major theme park to open in Florida in 25 years. This milestone development features five immersive themed worlds: The Wizarding World of Harry Potter – Ministry of Magic, Super Nintendo World, How to Train Your Dragon – Isle of Berk, Dark Universe, and Celestial Park.

“This is the first major, entirely new theme park in the U.S. in 25 years. This is a compelling reason to visit Orlando,” said Casandra Matej, CEO of Visit Orlando. “When you see a major milestone project such as Epic Universe, you know it’s going to have definitely a domino effect of economic benefits for our community.”

Trending World News Headlines:

Job Creation: From Construction to Operations

The economic impact of Epic Universe began well before its opening, with Universal Orlando generating $44 billion in economic impact between 2019 and 2023, according to research from the University of Central Florida’s Institute for Economic Forecasting. The construction phase alone created approximately 65,000 jobs, according to Universal.

Sean Snaith, the institute’s director, projects that Epic Universe will create more than 17,500 new permanent jobs in its first year of operation. These positions range from frontline theme park employees to engineers, software specialists, artists, and designers who will maintain and enhance the park’s innovative attractions.

“The labor market in Florida is quite strong right now,” Snaith noted. “We’re projecting that Florida will continue to outpace the national economy, both in terms of economic growth and job growth.”

Universal Orlando already generates 94,000 jobs nationwide, making it one of the region’s most significant employers. The expansion represents a major employment boost at a time when tourism remains central to Florida’s economic health.

The Ripple Effect: Beyond Park Boundaries

Epic Universe’s impact extends far beyond its entrance gates, with surrounding areas already experiencing significant development in anticipation of increased tourism. “You see the zone around Epic Universe actually boosting since that construction,” said Jakob Wahl, CEO of International Association of Amusement Parks and Attractions. “You see new infrastructure. You see new housing. You see new hotels being built. You see new restaurants being built. It’s a boost for the whole area.”

Tourism has long been central Florida’s economic engine, with more than 74 million people visiting Orlando in 2023, contributing around 50% of the total sales tax collected in Orange County. Industry experts anticipate Epic Universe will not only capture existing visitors but also attract new ones, potentially extending typical vacation stays.

“What we do know is every day that someone extends their stay, that is millions of dollars worth of economic impact for our community,” Matej explained.

This “rising tide” effect is expected to benefit even Universal’s competitors. “When Disneyland Paris opened in ’92 there were concerns from the theme parks around Paris,” Wahl recalled. “But the opposite actually happened. They increased their audience. And that is something which is likely to happen also in Orlando because it strengthens the destination.”

A $7 Billion Investment in Florida’s Future

Epic Universe, first announced in 2019, represents a rumored $7 billion investment by Comcast, making it the largest single investment the company has ever made in its theme parks business and in Florida overall. According to Parade, the park will feature cutting-edge attractions like “Monsters Unchained: The Frankenstein Experiment” in Dark Universe and “Mario Kart: Bowser’s Challenge” in Super Nintendo World.

The development also includes the new Universal Helios Grand Hotel, which offers a dedicated entrance into the park and is visible throughout Celestial Park. This integration of accommodations directly with the theme park experience represents a strategic move to capture more of the visitor’s total vacation spend.

For visitors looking to experience Epic Universe before the official opening, Universal Orlando Passholders can access select Preview Tickets starting April 17. For others, My News 13 reports that multi-park, multi-day ticket bundles are currently the only option, starting at $117.33 for adults.

Competition Fuels Innovation

The opening of Epic Universe is also expected to intensify the creative competition between Universal and Disney, potentially leading to new investments and innovations at both companies’ properties. This competitive dynamic has historically benefited the Orlando tourism industry, with each new attraction or land driving renewed interest in the destination.

“Typically, both Universal and Disney receive patronage from those visiting Orlando, especially from guests who are traveling from out of state or from other countries,” industry analysts note. “Having the additional park means that many will extend their vacations to allow more time to experience Epic Universe alongside Disney’s four theme parks and Universal’s other amusement locations.”

As Florida’s tourism sector continues to recover and grow post-pandemic, Epic Universe’s timing could hardly be better for the state’s economy. With its diverse array of worlds and attractions, the park seems poised to deliver on its promise of an “epic” experience—both for visitors and for Florida’s economic bottom line.

Trending World News Headlines: