New Study Shows How Important Disney World is To Florida’s Economy
As Disney continues its battles with Florida Governor Ron DeSantis in both federal and state court, The Walt Disney Company is highlighting the economic impact that they have had on the Florida economy.
The study was commissioned by Disney and completed by Oxford Economics. In the report, the economic importance of Disney to Florida becomes evident.
In the fiscal year 2022 alone, Disney generated $40 billion in economic impact in Florida. The total money generated was a new high for the decade.
📈 In fiscal year 2022, @Disney generated $40.3 billion in economic impact in Florida. pic.twitter.com/RVNQXwXm3f
— Disney Parks (@DisneyParks) November 14, 2023
“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,” said Adam Sacks, President of Tourism Economics, a division of Oxford Economics. “Disney is also vital to the funding of public services, as it generated taxes of $6.6 billion in 2022, including state and local taxes of $3.1 billion.”
Walt Disney World Produces a Ton of Jobs
Disney’s presence in Florida also generates over 250,000 jobs. The company has remained one of the largest employers in Florida, accounting for one in every 23 jobs.
In fact, according to the most recent report, for every direct job on-site at Disney, an additional 1.7 jobs are created throughout the state.
💼 1 in every 8 jobs in Central Florida can be directly attributed to @Disney. Without Disney, Florida’s unemployment rate would jump from the 21st lowest to the second highest among all 50 states. pic.twitter.com/XS8ZPBlSyo
— Disney Parks (@DisneyParks) November 14, 2023
Without Disney, Florida’s unemployment rate would jump from the 21st lowest to the second highest in the country.
Additionally, Disney works with 2,500 businesses as part of their Florida operation. With all the outside contractors that Walt Disney World uses, they help local businesses thrive.
“I am incredibly proud of how Disney has created meaningful change and benefited people’s lives in Florida for generations, not just in establishing our area’s theme park industry, but also in how we have worked with other sectors across the state to do the same,” said Jeff Vahle, President, Walt Disney World Resort.
🏬 @WaltDisneyWorld works with 2,500 small businesses based in Florida. pic.twitter.com/HsVAmSOSNF
— Disney Parks (@DisneyParks) November 14, 2023
“The numbers speak for themselves on why Disney is so important to fueling jobs, the economy, and tourism throughout our region, and the future investments we’re looking to make will continue to provide even more opportunities for Floridians.”
Giving Back
Finally, since opening in 1971, Walt Disney World has provided hundreds of millions of dollars to nonprofit organizations in Florida.
Not only has this been a passion point for the company, but Cast Members have been involved too. In total, Cast Members have spent more than 233,000 hours giving back through the Disney VoluntEARS program.
🪙 In fiscal year 2022, $6.6 billion was generated in tax revenue by Disney, including $3.1 billion in annual state and local tax revenue in Florida. pic.twitter.com/wE6FJkthF2
— Disney Parks (@DisneyParks) November 14, 2023
In the end, Disney likely didn’t need to commission an economic report to show that it is important to Florida. Still, seeing the numbers laid out shows just how large of a shadow that Walt Disney World casts over the state.
To learn more about Disney’s impact on Florida visit DisneyFlorida.com
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