Recently, Disney announced major plans to move a few thousand employees from California to Florida.
They’ll be building a new campus in the Lake Nona neighborhood of Orlando, and more details on the relocation should be coming soon. And in good news for Disney, it looks like the company may get a big tax break if their plans work out!
According to the Orlando Sentinel, the Walt Disney Company could get more than half a billion dollars in state tax breaks for building their Lake Nona campus and relocating 2000+ employees.
The capital investment for the project could be almost $864 million, and early estimates show that Disney could claim more than $570 million in tax breaks over the course of 20 years. That would be the new record for the largest tax break by a single corporation in Florida. Disney is eligible for this money through the Capital Investment Tax Credit program. (They were approved for the program in February 2020.)
We’ll make sure to keep you updated as we get more information on Disney’s new campus coming to the area. Stay tuned to AllEars for all the Disney news!
What do you think of Disney’s relocation of employees?