The Walt Disney Company once planned to build a new campus for its employees in Florida, purchasing nearly 60 acres of land in Lake Nona and touting six office buildings, two “flex” buildings, and more. That plan has been scrapped.
In the midst of multiple lawsuits between The Walt Disney Company and Florida Governor Ron DeSantis, Disney CEO Bob Iger and Chairperson of Walt Disney Parks and Resorts Josh D’Amaro shared that Disney will no longer move forward with the construction of the Lake Nona campus.
Back in 2021, Disney purchased land in Lake Nona and hoped to move thousands of employees from California to Florida. The project was expected to bring more than 2,000 jobs to Central Florida, according to The New York Times.
Those jobs were expected to boost the economy, with an estimated $120,000 average salary for employees on campus, per The New York Times. So, why the sudden change of heart?
In response to comments by Florida Gov. Ron DeSantis, Disney filed a lawsuit against the governor and his allies, calling the defendant’s actions a “relentless campaign to weaponize government power over the company.”
Then, at a recent earnings call, Disney CEO Bob Iger asked, “Does the state want us to invest more, employ more people, and pay more taxes, or not?” Now, in an email to Disney employees, Josh D’Amaro noted “changing business conditions” as a reason for canceling the project, according to The New York Times.
Orange County Mayor Jerry L. Demings commented on the news, saying,
“It is unfortunate that Disney will not be moving forward with construction of the Lake Nona campus. However, these are the consequences when there isn’t an inclusive and collaborative work environment between the state of Florida and the business community. We will continue to work closely with our valued partners at Disney.”
Despite the news, D’Amaro said, “I remain optimistic about the direction of our Walt Disney World business,” per The New York Times. Note that $17 billion is expected to be invested in construction at Disney World over the next decade, and the investment will reportedly bring about 13,000 jobs to the area. In reference to that investment, D’Amaro stated, “I hope we’re able to.”
Deadline reported that Jeremy Redfern, Gov. DeSantis’s press secretary, released a statement reading,
“Disney announced the possibility of a Lake Nona campus nearly two years ago. Nothing ever came of the project, and the state was unsure whether it would come to fruition. Given the company’s financial straits, falling market cap and declining stock price, it is unsurprising that they would restructure their business operations and cancel unsuccessful ventures.”
Jeff Vahle, President of the Walt Disney World Resort, addressed his statement to Community Leaders, echoing Iger’s words. In part, the statement read,
“Dear Community Leaders,
Today, you may have heard the news that Disney is no longer moving forward on the construction of a new campus in the thriving and growing community of Lake Nona in Orlando. Since we first announced this project, several dynamics have changed, including a change in company leadership and evolving economic and business conditions.
Our plans currently call for us to invest $17 billion in Walt Disney World over the next 10 years and create 13,000 new jobs to continue doing our part as a leading employer in the hospitality and themed entertainment industry. We hope those plans will become a future reality.”
The full statement is available on the local ABC news outlet, WFTS Tampa Bay.
We will continue to look for updates, so stay tuned for more Disney news.
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If Disney fails so does Florida so as much as locals hate the tourists, they’re what keeps the state afloat.
Disney made its bed let if lie in it. I visit WDW multiple times a year but Disney is wrong in this fight.
I believe it is called “political posturing”, seeing which side blinks first.
Why would you continue to do business where has become so hostile and laser focused on destroying said business? I’m sure the families of what would have been relocated employees are relieved.
sell your disney stock before it becomes worthless.
Gee…I was going to sell my Flordia/DeSantis stock….