lake nona florida economic impact
Credit: Disney

Experts Predict Economic Trouble for Florida with Disney’s Latest Move

Following a period of uncertainty and conflict between the Walt Disney Company and Florida Governor Ron DeSantis, it appears that Disney is following through on its commitment to pull projects and demonstrate in no uncertain terms the economic repercussions on the Sunshine State if the company and its operations at the Central Florida Disney Resort continue to face attacks. Most notably, this was seen in the cancellation of the Lake Nona campus move, which has garnered significant media attention since it was announced yesterday.

Retiring Teacher Gets A Disney Surprise

Mickey and Minnie Mouse at Magic Kingdom Park, Walt Disney World, in their 50th-anniversary outfits / Credit: Disney

Related: Orange County Mayor Responds to Lake Nona Cancellation

Since its announcement, many have responded to the decision from the Walt Disney Company, including Florida Gov. Ron DeSantis, who didn’t seem too concerned about the cancellation. Many had warned that Governor DeSantis’s fight with Disney could end up costing the Sunshine State, and now, it seems like it has.

As WFTV9 reported, Disney’s “nixing” of the Lake Nona campus will have an economic toll on the state, per experts.

Lake Nona

Lake Nona Campus, Florida / Credit: Lake Nona

Former state Rep. Bobby Olszewski seems certain this move will have an impact.

“This is a very big deal for Central Florida,” Rep. Olszewski said. “There’s an economic toll not only for today but for years and possibly even decades to come, and obviously the tax impact on Orange County local government are going to be immense.”

He expressed concerns that with Disney leading the fray, other companies might be motivated to behave similarly.

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Disney’s Animal Kingdom Theme Park entrance, Walt Disney World Resort/Credit: Disney

The Lake Nona project was announced in 2021 and was another one of former Disney CEO Bob Chapek’s ideas. The cancellation comes on the back of Disney’s earnings call in May, wherein Disney CEO Bob Iger made clear that if the attacks on the Walt Disney Company and the Walt Disney World Resort were to continue, the Mouse House might have to take its business elsewhere.

As the Disney CEO asked, “Does the state want us to invest more, employ more people, and pay more money in taxes, or not?”

About Priyanka

Priyanka is a writer, artist, avid reader, and travel enthusiast based in Chicago. In her free time, she is probably walking by the lake, catching up on the latest releases on TV, or spending inordinate amounts of time rewatching Moana, Encanto, and her Disney Channel life-long favorites Zack and Cody wreak havoc on the Tipton.