The Disney in PC stuff has been out there for a while. I don't know if it is true or not, but for the last 20 years or so I've heard rumors that Disney, Six Flags etc. was buying up land.
I do know that Panama City killed things like a speedway and the Miller Coors brewing plant that went to Albany. (The brewing plant is also why you can't get 40 oz. bottles in Florida)
I grew up in PC and if it weren't for investment from the federal government in places like Tyndall and NSA PC, it would likely be even poorer than it is now. Aside from tourism and military, the older generations talk a big game about bringing in business, but fail miserably to do so. I loved some things about PC, but I realized quickly that most careers were not sustainable in PC and most of my friends did as well and are now in places like Tallahassee, NOLA, Miami, Las Vegas, Nashville, NYC, Tampa, Orlando, Atlanta, etc.