- Disney cancels a nearly $900 million corporate campus project in Lake Nona, Florida, and the Star Wars: Galactic Starcruiser hotel.
- The decision was influenced by changing economic and business conditions, amidst a dispute with Governor Ron DeSantis.
- The conflict began after Disney opposed Florida’s “Don’t Say Gay Bill,” leading to legislative moves by DeSantis against the company.
- The Lake Nona campus was planned to be a significant development, housing 2,000 employees with an average salary of $120,000.
- The Star Wars hotel, an immersive experience with high operational costs, opened in March 2022 but will close by September’s end.
- Disney is undertaking broader cost-cutting measures, including the reduction of 7,000 jobs and $5.5 billion in expenses.
- Disney has filed a federal lawsuit against Governor DeSantis and Florida lawmakers, claiming retaliation against the company.
- Disney CEO Robert Iger had committed to investing $17 billion in Florida over the next decade, a plan now uncertain.
The Wall Street Journal is an American business and economic-focused international daily newspaper based in New York City. The Journal is published six days a week by Dow Jones & Company, a division of News Corp.
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