Disney to invest $17 billion in Florida theme parks amid ongoing battle
Lydia Nusbaum contributed to this report.
LAKE BUENA VISTA, Fla. (FLV) – Despite a persistent power struggle between the Walt Disney Company and Florida government under Gov. Ron DeSantis and Republican leadership, CEO Bob Iger said over the next 10 years, the company will invest around $17 billion in Walt Disney World.
The investment would reportedly create around 13,000 jobs.
The CEO touted Disney’s economic position in Florida: “We are the largest taxpayer in the state.”
“About 50 million visitors will go through our gates this year alone, about 8 million of them from outside the U.S.,” he said.
Iger previously apologized for the so-called “Don’t Say Gay” battle over the Parental Rights in Education Act, but recently slammed renewed threats from DeSantis and legislative leadership of “legislative options” overriding last-minute agreements earlier this year, before the new DeSantis-appointed board was enacted.
“Our point on this is that any action that thwarts those efforts simply to retaliate for a position the company took sounds not just anti-business, but it sounds anti-Florida,” Iger said.
Details were not disclosed as to where specifically that $17 billion would go. The investment could include operating costs, new attractions, infrastructure improvements, or other capital expenditures.
In February, the previous board approved covenants and contracts that gave Disney control over development rights.
Those contracts were approved days before DeSantis signed a law to strip Disney of its special privileges and create a newly-formed board, the Central Florida Tourism Oversight District, to oversee Disney.
The “shocking” agreements “bind the hands” of the new Central Florida Tourism Oversight District, according to lawyers for the district.
DeSantis has since ordered an investigation into the dealings.
“These collusive and self-dealing arrangements aim to nullify the recently passed legislation, undercut Florida’s legislative process, and defy the will of Floridians,” DeSantis said in a letter to the inspector general.
The governor said the Reedy Creek board’s actions “appear to suffer from serious legal infirmities,” including inadequate notice, improper delegation of authority, and ethical violations such as self-dealing.
“I formally request that you, as the Chief Inspector General of the State of Florida, in consultation with the Florida Department of Law Enforcement, launch a thorough review and investigation into the actions of the [Reedy Creek Improvement District] Board of Supervisors described above.”
Attorney General Ashley Moody’s office requested text messages and emails from board members and other Reedy Creek affiliates about circumventing or attempting to avoid the effects of anticipated actions by DeSantis and the Florida Legislature.
The governor’s office said there is “possible civil and criminal penalties” related to avoiding those anticipated actions.
