Disney Has $40 Billion Economic Impact On Florida, Study Says

Walt Disney's operations in Florida generated an impact of $40 billion in the state last year, the company said, citing a report from Oxford Economics.

The study, which was commissioned by Disney, was released as the media and entertainment giant battles some policies of Republican Florida Governor Ron DeSantis, who is also running for president.

The Oxford analysis shows that the company's operations are responsible for 263,000 direct and indirect jobs in the state. Disney employs about 82,000 in Florida. Each direct job supports 1.7 jobs in the state, the study says, adding that, without Disney, Florida's unemployment rate would rise to 5.4% from 3%.

The report says that the company, its visitors, employees and third-party businesses generated $3.1 billion in state and local tax revenue in 2022.

"Disney is an economic catalyst to the state of Florida generating billions in economic activity, either directly, or indirectly through its supply chain and the spending of employees," Adam Sacks, President of Tourism Economics, a division of Oxford Economics, said in a press release.

In January, the DeSantis administration took over the administration of Red Creek Improvement District, which handles services like road repairs and garbage collection, besides authorizations for design and construction in the areas of Disney's resorts. Previously, the Red Creek was run by Disney appointees. The company is fighting the change in court.

Disney is also against DeSantis's so-called "Don't Say Gay" law, which was passed by Florida's legislature last year and limits discussions of sexual orientation and gender identity in schools.

In May, the company canceled plans for a new employee campus in central Florida. The $864 million project, first announced in July 2021, included the relocation of 2,000 jobs from California to Lake Nona, which is about 20 miles from the Disney World complex in Orlando.