ORANGE COUNTY, Fla. — The effects of Disney canceling its planned $1 billion Lake Nona campus are already being felt by the people already living there.
>>> STREAM CHANNEL 9 EYEWITNESS NEWS LIVE <<<
With 2,000 high-paying jobs set to remain in California, many are now wondering how much this will hurt Lake Nona’s future.
However, economists don’t seem too worried.
Disney’s offices were supposed to be one of the local centerpieces, but the shortfall isn’t expected to last.
READ: Disney nixing Lake Nona campus will have ‘economic toll,’ expert says
“I don’t think it changes the trajectory of this part of Orlando or Central Florida’s economy in general at all,” economist Sean Snaith said.
Since 2021, housing prices in Lake Nona have skyrocketed and other resources have been pushed hard to keep up with the growth.
READ: ‘Climate of fear’: Pride events canceled after DeSantis signs laws targeting LGBTQ+ community
Snaith said he believes this will give parts of the community a small chance to breathe, even as more tech and medical companies move in.
As for Disney’s future in Florida, he said he expects the company to continue investing in Disney World, and doesn’t rule out the possibility of a corporate office coming in the future.
Disney owns the lot and hasn’t signaled whether it plans to sell it or hold onto it.
READ: What Lake Nona, region will lose with cancellation of Disney campus
This browser does not support the video element.
Click here to download the free WFTV news and weather apps, click here to download the WFTV Now app for your smart TV and click here to stream Channel 9 Eyewitness News live.