Disney—Amid War With DeSantis—Kills $1 Billion Florida Complex

Topline

Amid an ongoing culture war with Gov. Ron DeSantis (R-Fla.), a likely Republican presidential candidate, Disney has canceled an ambitious $1 billion plan for Florida that would have created more than 2,000 jobs for the state.

A statue of Walt Disney and Micky Mouse stands in front of the Cinderella Castle at the Magic … [+] Kingdom at Walt Disney World in Lake Buena Vista, Fla.

AP/John Raoux

Key Facts

The project, known as the Lake None Town Center, has been in the works since 2021 and would have relocated employees, mainly those in its theme parks division, from Southern California to Central Florida in an effort to capitalize on a Florida tax credit that would have allowed Disney to regain nearly $600 million over 20 years for the move, the Orlando Sentinel reported.

Hundreds of employees have already relocated to Florida for the plan and will be given the option of moving back, people familiar with the matter told the Wall Street Journal.

Key Background

For more than a year, DeSantis and Disney have been pitted against each other, beginning with the state’s “don’t say gay” legislation. The company expressed its opposition to the state’s law, which restricts public schools from discussing sexual orientation and gender identity in classrooms. Disney’s public comments led DeSantis to take aim at Disney’s special district, which essentially functions as a local government, and take “exclusive jurisdiction and control” of the district, home to Disney’s 27,000-acre theme park and resort. In March, the company sued the governor and fellow Florida Republicans for “a targeted campaign of government retaliation.” Just last week, returning Disney CEO Bob Iger said the company might reconsider already planned investments in the state during an investors earnings call. Iger concluded his remarks by asking: “Does the state want us to invest more, employ more people and pay more taxes or not?”

Big Number

$1.1 billion. That’s the amount in local and state taxes Disney paid in Florida Last year, Iger said.

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