For nearly a century, the Walt Disney Company was mainly based in California.But according to Orlando Business Journal, The situation may change soon, as the company is reportedly considering moving many of its divisions to Florida.
Jack Witthaus and Richard Bilbao wrote that Disney may relocate part of their company to Lake Orlando, a master-planned community in southeastern Orlando. This move occurred because many companies, including Hewlett-Packard Enterprise, have announced their relocation to the southeastern states, which tend to be more tax-friendly and support businesses. According to reports, Disney has not signed any agreements with the community, nor is it sure which department or people will take what actions.
Recently, Disney has fought openly with California, especially with regard to the state’s COVID-1
A Disney spokesperson told Whithouse and Bilbao, “As the largest employer in central Florida, we have been exploring opportunities in other locations near the theme park, but there is no specific content.” Tavistock Development Co, the developer of Lake Nona . No comment on this matter.
Jeff Sweeney, managing director of Cushman & Wakefield, was not involved in the possible move.He said that Disney has “convincing reasons” to move more of its divisions to Orlando. He said: “We have seen time and time again that in the past 12 months, the company has left California for other business-friendly markets. You See what happened [theme] Parks in California and Florida. This has a huge financial impact on the organization, in addition to other California regulations, including employee operating costs and personal income tax. “
Tuna Amobi, director and industry analyst at CFRA Research, added that it is unlikely to completely relocate, especially since its film and television productions are already rooted in Los Angeles and New York. It is more likely that the theme park department will be relocated, and there may be more support and operations departments, most of which are already in central Florida. Amobi also expressed surprise at this rumor. He said: “Despite the progress made in vaccines, the Covid situation has not been controlled. [but] It gives investors some hope. “
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