May 21, 2023 - SACRAMENTO – Governor Gavin Newsom has issued a statement following the announcement by the Walt Disney Company that the corporation is backing out of its nearly $1 billion office complex that was scheduled for construction in Orlando, Florida. Instead, the company — and more than 2,000 jobs — will stay in California.

“Authoritarian policies have consequences,” said Governor Newsom. “This announcement is a victory for California, and the tens of thousands of Disney employees who know they can live in a state where they are respected and safe. Disney has invested billions of dollars in California, and we look forward to their increased investment and growth in our state.”

Disney’s action follows the Governor’s ongoing conversations with the company and the public urging for the entertainment giant to continue to grow and invest in its home state of California.

California’s economy continues to dominate the nation and the Golden State is poised to soon become the fourth-largest economy on planet Earth. California, which has the most equitable tax system in the entire country, is #1 in the nation for new business starts, #1 for access to venture capital funding, and #1 for tourism spending. Business license applications are up 46.6% in California since this time last year – the biggest increase of any state.
Source: Office of the Governor