Anaheim City Council extends Disneyland tax break

ANAHEIM, Calif. (KABC) -- The Anaheim City Council voted to extend its tax break on Disneyland ticket sales for another 30 years.

The move follows hours of public comment Tuesday night.

In exchange for the tax break, Disney will invest $1 billion into new attractions and parking.

According to an independent economic study, the billion-dollar investment could mean at least 3,000 more jobs and nearly $18 million a year in additional hotel stays and sales tax revenue for the city.

In a statement overnight, Disney applauded the decision and said it will ensure the city remains a vibrant tourism destination.

The Walt Disney Company is the parent company of ABC7.