Disney is pulling out of a $1 billion investment in Florida amid DeSantis feud
The Walt Disney Co. said it is pulling out of a roughly $1 billion investment in Florida, citing “changing business conditions.” The media and entertainment giant’s announcement comes amid a year-long feud with the state’s Republican governor, Ron DeSantis, after Disney publicly opposed his bill to prohibit instruction on sexual orientation and gender identity in public schools.
In a memo sent to Disney employees, Josh D’Amaro, chairman of Disney Parks, Experiences and Products, said that the company isn’t moving forward with its plans to build a new Disney campus in Lake Nona.
The Lake Nona complex would have included several buildings employing 2,000 Disney workers that would have been relocated from California to Florida.
“Given the considerable changes that have occurred since the announcement of this project, including new leadership and changing business conditions, we have decided not to move forward with construction of the campus,” D’Amaro said in the email. “This was not an easy decision to make, but I believe it is the right one.”
This is a developing story and will be updated.
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