The Walt Disney Company has announced that it has canceled a controversial $1 billion investment project located in Florida. The decision comes amid the ongoing political feud with Republican Gov. Ron DeSantis, who has previously criticized Disney’s statements on controversial education policies. Despite offering generous tax incentives, the project known as the Lake Nona Town Center, was abandoned by Disney due to changing business conditions and the state’s interference in the company’s affairs.
The Walt @Disney Company has scrapped a $1 billion project near Orlando amidst its feud with Florida Gov @RonDeSantisFL. It will cost the state over 2,000 jobs. The CEO has called DeSantis "anti-business." Read my @DailyCaller NF story for more. https://t.co/PEBOVRRhP9
— Arjun Singh (@arjunswritings) May 18, 2023
It is unsurprising that Disney would restructure its business operations and cancel unsuccessful ventures considering the company’s falling stock price and financial straits. According to experts in the field, the state’s interference in Disney’s business may have contributed to the company’s decision to withdraw. Disney has also sued the state in federal court over the abolition of the Randy Creek Improvement District, which governs the Walt Disney World resort complex’s territory. The company claimed that Florida’s move violated its First Amendment rights, creating a bitter relationship between Disney and the state.
Disney CEO Bob Iger comments on their ongoing battle with the State of Florida and Governor Ron DeSantis pic.twitter.com/NdLMbMbvZr
— Mickey Views (@MickeyViews) May 11, 2023
Nikki Haley on DeSantis going after Disney:
"Pick up the phone. Meet with the executives. Hash this out in a back room, and get back to the normal life of business… At the end of the day, businesses are our partners." pic.twitter.com/G8DisAc3ux
— Citizen Free Press (@CitizenFreePres) May 9, 2023
Former Republican Gov. Nikki Haley of South Carolina called upon Disney to move to her state and enjoy the benefits of creating over 70,000 jobs, knowing very well that Florida’s current political environment was adverse to businesses. Disney’s decision to cancel the investment is not surprising because it typically invests in areas that align with the company’s values and that are conducive to doing business.
In conclusion, the state’s political interference prompted Disney to withdraw the project from Florida. It is a move that will undoubtedly result in the loss of jobs and tax revenue for the state. We hope that the state government will reconsider its position on businesses and help to create a conducive environment for companies to thrive.