A newly released study from Oxford Economics says that Disney World generated more than $40 billion in economic impact for the state of Florida. This includes 263,000 jobs, either directly or indirectly, which accounts for 1 out of every 32 jobs in the state. Of those 263,000 jobs, 82,000 are directly attributable to Disney World. That figure is 1 out of every 8 jobs in Central Florida. For every job on-site at Disney, an additional 1.7 jobs are supported across Florida. Without Disney, Florida’s unemployment rate would rise from the 21st lowest to the 2nd highest in the nation.
Disney generated $6.6 billion in total tax revenue, including $3.1 billion in annual state and local tax revenue generated by Disney, visitors, employees, and third-party businesses. Disney paid $1.1 billion in state and local taxes to Orange and Osceola counties.
The study, which was commissioned by Disney, also reflects the economic impact of Disney Signature Experiences in Florida, including Disney Vacation Club and Disney Cruise Line. The results are for fiscal year 2022, prior to the Reedy Creek Improvement District becoming the Central Florida Tourism Oversight District with the appointment of a new board. The Reedy Creek Improvement District was a cost-effective mechanism throughout its history in ensuring the tax burden for these services did not fall on Orange and Osceola County residents. It allowed Disney to efficiently invest tens of billions of dollars in Florida over the past several decades by maintaining the highest development and service standards on Disney property.
I am incredibly proud of how Disney has created meaningful change and benefitted 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. 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.
Disney’s operations power a massive small business ecosystem in the state. The company works with 2,500 small businesses here in Florida and thousands more across the country who employ workers and provide a wide range of goods and services – from the painters who help maintain Cinderella Castle, to the family-run vendor who supplies some of the sweet treats served in the theme parks and more. Over 160 third-party businesses also operate on Disney’s property, from restauranteurs to hoteliers, retailers and more, providing opportunities for even more local Florida-based businesses to serve the millions of guests who visit Walt Disney World each year.
Disney’s impact goes far beyond the gates of its theme parks and positively touches our lives in nearly every corner of our community. Disney not only pioneered Orlando’s theme park industry with its own investments over the last five decades, they also paved the way for others to invest in our city and help make it the tourism destination it is today. It’s been an honor working alongside Disney as they help continue to move Florida forward.
Disney is currently embattled with both Florida Governor Ron DeSantis and his Central Florida Tourism Oversight District in state and federal court for actions that Disney says trample its First Amendment rights and violate long-term development agreements that it would use to create billions of dollars of new investments at Walt Disney World.
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!