Disney expands financial plan to grow California theme parks amidst feud with Florida Governor Ron DeSantis.
The Walt Disney Company Expands Plans for California Theme Parks
The Walt Disney Company is making big moves to renovate and redevelop its California theme parks, and it’s all happening amidst a feud between Disney’s CEO Bob Iger and Florida Governor Ron DeSantis.
This decision comes after Iger scrapped plans in May to build a $900 million office campus that would have relocated 2,000 employees from California to Central Florida.
Last month, Disney’s theme park and consumer products chairman, Josh D’Amaro, announced upcoming changes for employees.
“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. I remain optimistic about the direction of our Walt Disney World business,” he wrote.
A sign near an entranceway to Walt Disney World in Orlando, Fla., on May 22, 2023. (Joe Raedle/Getty Images)
Additionally, Disney announced the closure of its Star Wars-themed luxury hotel, where a family of four paid $6,000 for a two-night stay.
Iger had strong words for DeSantis, calling him “anti-business” and “anti-Florida” in April after DeSantis stripped Disney of its self-governing status over its Orlando theme parks.
Disney has taken legal action against DeSantis, accusing him of violating the company’s First Amendment rights to free speech.
In response to the lawsuit, DeSantis’s office stated, “Disney announced the possibility of a Lake Nona campus nearly two years ago. Nothing ever came of the project, and the state was unsure whether it would come to fruition.”
DeSantis’s office further commented, “Given the company’s financial straits, falling market cap, and declining stock price, it is unsurprising that they would restructure their business operations and cancel unsuccessful ventures.”
The Disney-DeSantis rift has opened the door for California Governor Gavin Newsom to publicly support Disney’s plans to expand its Anaheim resort, which includes Disneyland and Disney California Adventure Park.
Last month, Governor Newsom attended Disneyland’s Pride Nite and expressed his support for the state’s partnership with Disney.
He stated, “In California, we don’t just tolerate our diversity; we celebrate it and all the ways it makes us stronger. Our inclusivity and acceptance attract new talent and ideas that drive our economic growth and make California a hotspot for world-leading companies to grow and prosper.”
Newsom’s office also highlighted a study by economists from Cal State Fullerton, which emphasized the financial benefits of the “Disneyland Forward” initiative.
“Findings show what an economic powerhouse Disneyland Resort is,” said Adrian Fleissig, professor of economics. “It is the largest employer in Orange County, and its impact is felt beyond Anaheim. Not only does it draw tourists from around the world, but it also adds to the local economy through its major construction and renovation projects. Disneyland Resort is a magnet and catalyst for additional tourism and recreational activities and enterprises in the region.”
Disneyland is the largest employer in Orange County and contributes over $5.7 billion annually to the Southern California economy.
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