Disney scraps $1 billion campus in Florida, citing 'changing business conditions'

Disney World
(Image credit: Joe Burbank/Orlando Sentinel/Tribune News Service via Getty Images)

The Walt Disney Co. announced Thursday that it has pulled the plug on a new campus near its Disney World theme park outside Orlando and will no longer relocate about 2,000 employees to Florida from Southern California. The project in Lake Nona Town Center was projected to cost $864 million when it was announced in 2021, but more recent estimates put the price tag closer to $1.3 billion.

"Given the considerable changes that have occurred since the announcement of this project, including new leadership and changing business conditions, we have decided not to move forward with construction of the campus," Josh D'Amaro, Disney's theme park and consumer products chairman, told employees. "I remain optimistic about the direction of our Walt Disney World business. We have plans to invest $17 billion and create 13,000 jobs over the next 10 years. I hope we're able to do so."

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.