For almost a century, The Walt Disney has been based primarily in California. But according to a new report from Orlando Business Journal, things may change soon, as the company says it is considering relocating a number of its divisions to Florida.
Jack Whithouse and Richard Bilbao write that Disney may move part of its company to Lake Nona, a planned community in southeastern Orlando. The move comes as a number of companies, including Hewlett Packard Enterprise, have announced relocations to the southeastern states, which tend to be more tax-friendly and business-friendly. Disney has reportedly not signed any deal with the community and it is uncertain which divisions or how people would make the move.
Disney has recently been waging open battles with California, especially over state restrictions on COVID-1
A Disney spokesman told Witthaus and Bilbao, “as the largest employer in Central Florida, we are always exploring the possibility of additional locations near our theme park, but there is nothing specific.” does not comment on the story.
Jeff Sweeney, managing director of Cushman & Wakefield, who was not involved in the move, said Disney had “compelling reasons” to relocate more of its divisions to Orlando, saying: for other markets that are suitable for business. See what happened to [theme] parks in California against Florida. This is a major financial impact on the organization, along with operating costs and employee income tax in addition to other regulations in California. “
Tuna Amobi, director and industry analyst at CFRA Research, added that it is unlikely to be a complete move, especially with its film and television productions, which are already rooted in Los Angeles and New York. Themes of the theme park are more likely to be relocated, possibly additional maintenance and operations departments, many of which are already in Central Florida. Amobi also expressed no surprise about the rumors, saying: “The situation with Covid is not under control despite the progress of the vaccine, [but] this gives some hope to investors. “
Keep reading WDWNT as we learn more about this ongoing story.