Disney will invest $17 billion in Florida World over 10 years, CEO says

The Flordia state government, led by Governor Ron DeSantis, has succeeded in bringing Walt Disney Co. DIS to the state's attention, and remains committed to the state as a whole.

In the next 10 years, Disney will invest $17 billion in central Florida's Walt Disney World hub, said CEO Bog Iger and Parks Chief Josh D'Amaro. The investment will result in the creation of 13,000 jobs, the report said.

As DeSantis announced his bid for the Republican presidential nomination in 2024, the entertainment giant's stance assumes importance.

D'Amaro told the JPMorgan Global Technology, Media and Communications Conference that the $17 billion investment gives a sense of how aggressive the company is in Walt Disney World.

Among the plans are the transformation of EPCOT Theme Park, the new Stars Tours attraction and the new Tiana attraction, the executive said. The investment will also go into some of the blue sky ideas Disney presented in 2022 at the D 23 Expo in Anaheim, Calif.

Best Media Diversified Stocks

In the case of Florida's doesn't say gay law, which requires discussion of sexual orientation and gender identity among young children in school, Disney's response was in the crosshairs of DeSantis.

In response, the governor revoked Disney's special administrative status for governing the land surrounding its Florida Disneyland. The company filed a lawsuit against DeSantis, alleging that the state was involved in witch-hunting. The deal also came with a $1 billion plan to shift some of its California workforces to Florida.

In a recent survey, Axios revealed that Disney's reputation among the Republicans had suffered a blow, reducing the company's overall reputation. It's possible the standoff with Disney would hurt DeSantis as well.

Disney's shares were up 0.17% at $88.29 yesterday, according to Benzinga Pro data.