Disney is pulling out of a $1 billion investment in Florida amid DeSantis feud

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The Walt Disney Co. said it is pulling out of a roughly $1 billion investment in Florida, citing 'changing business conditions.'

, alleging that the governor had overseen a"targeted campaign of government retaliation."

Iger also noted that Disney is the largest taxpayer in Central Florida, providing more than $1.1 billion in state and local taxes last year. In a statement emailed to CBS MoneyWatch, DeSantis' office said that Disney had announced"the possibility" of the Lake Nona project almost two years ago. However, as recently as March Disney was moving forward with its plans to develop the site at Lake Nona, with Orlando's Development Review Committee giving the green light to the company's plans on March 9, according to public data.

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