The new $7 billion Epic Universe marks the first new major theme park in the United States in a generation and throws down the gauntlet in Universal’s crosstown showdown with rival Walt Disney World that promises to get even more heated over the next decade.

Snaith’s research also found that Epic Universe will likely generate around $2 billion for the state of Florida in its first year of operation. It’s projected to create more than 17,500 new jobs in its first year of opening.

Epic Universe, the upcoming central Florida theme park, will generate $2 billion for the state in its first year, according to calculations from the director of UCF's Institute for Economic Forecasting.