• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Disney scraps plan for new Florida campus as DeSantis feud heats up
Editor's Pick

Disney scraps plan for new Florida campus as DeSantis feud heats up

by May 19, 2023
by May 19, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Disney has abandoned plans to open up a new employee campus in Lake Nona, Florida, amid rising tensions with the state’s governor.

Citing “changing business conditions” and the return of CEO Bob Iger, Josh D’Amaro, chairman of Disney’s parks, experiences and products division, penned a memo to employees Thursday, announcing that the company will not move forward with construction of the campus and will no longer be asking more than 2,000 California-based employees to relocate to Florida.

“This was not an easy decision to make, but I believe it is the right one,” D’Amaro told employees.

Many Disney employees balked at the company’s relocation plans when they were first announced in July 2021 by former CEO Bob Chapek. While some left the company, or transitioned to other posts within Disney that would not require a move to Florida, others held out hope that the plan would fizzle out after a postponement. The campus was originally slated to open in 2022-2023, but was later delayed to 2026.

Disney is headquartered in Burbank, California, but operates a number of satellite offices across the country and the world.

More from CNBC

Disney World’s costly Star Wars Galactic Starcruiser to close in late September Netflix stock jumps 9% as it boasts ad-tier growth Warner Bros. Discovery CEO Zaslav backs CNN chief Licht amid internal anger over Trump town hall

D’Amaro said employees who have already moved to Florida may be able to relocate back to California.

“It is clear to me that the power of this brand comes from our incredible people, and we are committed to handling this change with care and compassion,” he said.

Disney’s announcement comes amid a bitter feud between the company and Florida Gov. Ron DeSantis. The company filed a lawsuit accusing DeSantis and the new board members of its special district of carrying out a campaign of political retribution against the entertainment giant.

DeSantis targeted Disney’s special district, formerly called the Reedy Creek Improvement District, after the company publicly criticized a controversial Florida bill — dubbed “Don’t Say Gay” by critics — that limits discussion of sexual orientation and gender identity in classrooms.

The special district has allowed the entertainment giant to effectively self-govern its Orlando parks’ operations for decades. The district was ultimately left intact, but its five-member board was replaced with DeSantis picks and renamed the Central Florida Tourism Oversight District.

Walt Disney World on Aug. 30, 2021, in Lake Buena Vista, Fla.John Raoux / AP file

Disney filed its suit in late April after the new board voted to undo development contracts that the company said it struck to secure its investments. The company has since updated that lawsuit to include newly passed legislation targeting its monorail system as further evidence of retaliation by the governor.

Iger has publicly lambasted DeSantis and the Florida government, noting that Disney has created thousands of indirect jobs, brings around 50 million visitors to Florida every year and is the state’s largest taxpayer.

D’Amaro reiterated in his memo that the company still plans to invest $17 billion in Florida over the next 10 years, including the addition of around 13,000 jobs. The company currently employs more than 75,000 people in the state.

Disney declined to provide specific updates on that investment, but has previously announced plans to update park attractions, expand existing parks and add more cruise ships to its fleet in Florida.

“I remain optimistic about the direction of our Walt Disney World business,” D’Amaro told employees.

This post appeared first on NBC NEWS
You Might Also Like
  • More discounts — and pitfalls — await holiday shopping procrastinators
  • Sixteen Nobel Prize-winning economists warn a second Trump term would ‘reignite’ inflation
  • Consumer price growth falls to below 5% for the first time in two years
  • Some tariff concessions from Canada and Mexico touted by Trump lack substance, experts say
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Finding the Leaders with ATR Momentum
next post
Nvidia Takes Over The Leadership

You may also like

Trump commutes sentence of Ozy Media founder Carlos Watson

March 29, 2025

Blue-collar hiring and pay gains stay hot in a cooling...

December 13, 2023

Costco sold more than $100 million in gold bars last...

December 16, 2023

Atmosic and Energous Announce Updated Evaluation Kit with Support for...

January 4, 2023

Extreme heat is changing where and when we vacation

July 8, 2024

Chipotle says restaurants will give bigger servings after complaints over...

July 28, 2024

YouTube is dominating the living room, forcing media companies to...

June 28, 2024

Before DeSantis’ Disney takeover, it gave itself new powers in...

April 2, 2023

Ticketmaster offers four tickets for $80 to selected shows amid...

July 19, 2024

Consumer price growth falls for 12th-consecutive month to 3%

July 14, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Hedge Market Volatility with These Dividend Aristocrats & Sector Leaders

      June 2, 2025
    • What’s Next for Dollar Tree, CrowdStrike, and Broadcom? Watch These Setups

      June 2, 2025
    • The Best Five Sectors, #21

      June 2, 2025
    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,769 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,475 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,455 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,437 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,313 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,585)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Hedge Market Volatility with These Dividend Aristocrats & Sector Leaders

      June 2, 2025
    • What’s Next for Dollar Tree, CrowdStrike, and Broadcom? Watch These...

      June 2, 2025
    • The Best Five Sectors, #21

      June 2, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,585)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Target will stop accepting personal checks

    July 8, 2024

    Telit Cinterion Expands 5G Module Portfolio...

    February 28, 2023

    Home price growth is back at...

    March 27, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here