Disney and union workers on Thursday formally agreed to a deal giving employees at the Walt Disney World Resort a minimum wage of $15 an hour by 2021.

“These are historic raises, not just entry level but for every hourly cast member,” Matt Hollis, the president of the coalition of unions known as the Service Trades Council Union that negotiated the deal, told The Associated Press.

The agreement will raise starting pay by 50 percent for over 37,000 employees represented by the Service Trades Council Union, according to a Walt Disney World Resort press release.

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“Our 50 percent wage increase will have a real, meaningful impact on our Cast and their families—and is part of our commitment to the thousands of Cast Members who make magic for our guests each and every day,” said George A. Kalogridis, president of Walt Disney World Resort.

“Increasing wages for Cast Members represents a significant investment in Central Florida, and will provide a powerful boost to the local economy,” he added.

The move to $15 an hour will take place in phases starting in December, when starting pay for hourly, non-topped workers will increase to $11 an hour, followed by $12 in March, $13 in September 2019, $14 in October 2020 and finally $15 in October 2021.

Eligible employees will also receive retroactive pay of either 50 cents an hour or three percent going back to September 24, 2017, as well as a one-time bonus of one thousand dollars, a bonus that was withheld during negotiations.

The deal will also expand anti-discrimination protections and allow Disney to use more part-time workers and impose additional requirements on them, according to the AP.

The agreement runs through October 2022.

Sen. Bernie Sanders Bernie SandersButtigieg stands in as Pence for Harris's debate practice Bernie Sanders warns of 'nightmare scenario' if Trump refuses election results Harris joins women's voter mobilization event also featuring Pelosi, Gloria Steinem, Jane Fonda MORE (I-Vt.) spoke at a rally for the unions in July, during fierce contract negotiations, and previously congratulated the workers on the deal.

Walt Disney World Resort currently has about 74,000 employees and is the largest single-site employer in the U.S.