The International Association of Amusement Parks and Attractions has finalized a deal with Darden to purchase 7 acres for its new headquarters.
The trade association for the attractions industry, known as IAAPA, closed on the property June 30. IAAPA paid Darden Restaurants $3 million for the land, according to the Orlando Business Journal. It plans to build 150,000-square feet of office space next to Darden Restaurants support center, north of Taft-Vineland Road.
IAAPA announced last year that it is moving its global headquarters and 40 employees from Alexandria, Va. to Orange County, where it has held its annual conference and trade show at the Orange County Convention Center since 2010.
Orange County approved an incentive package to entice IAAPA to relocate. It includes a seven-year, 50 percent property-tax abatement worth about $65,000. As part of the agreement, IAAPA has committed to holding its trade show at the convention center through 2030.
The weeklong event brings 30,000 people to the region and generates an estimated $51.3 million for the local economy each year, according to IAAPA.