A rendering of Universal’s Epic Universe, Universal Orlando Resort

Officials from Universal Orlando Resort announced Thursday they would be building a new theme park called Universal’s Epic Universe, which will be the company’s fourth park – a move that was hinted at back in the summer of 2018.

Universal’s Epic Universe will be located within a larger 750-acre site that nearly doubles the theme park company’s total available acreage in Central Florida. The property will also feature an entertainment center, hotels, shops, restaurants and more.

The new theme park will be built just a few miles from the existing resort in Orange County and take guests on a journey where beloved stories expand into vibrant lands.

The announcement was made Thursday at an event attended by Florida Governor Ron DeSantis, Orange County Mayor Jerry Demings, Tom Williams and Brian Roberts.

“Our new park represents the single-largest investment Comcast NBCUniversal has made in its theme park business and in Florida overall,” Comcast CEO Brian L. Roberts said in a statement. “It reflects the tremendous excitement we have for the future of our theme park business and for our entire company’s future in Florida.”

“Our vision for Epic Universe is historic,” Universal Parks & Resorts CEO Tom Williams said. “It will build on everything we have done and become the most immersive and innovative theme park we have ever created. It is an investment in our business, our industry, our team members and our community.”

Universal's Epic Universe, Universal Orlando Resort

Universal Orlando currently employees 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, which is expected to nearly double when Universal’s Epic Universe opens.