Disney Pulls Plug on $1 Billion Development in Florida

[Right_in_Virginia]

Disney Pulls Plug on $1 Billion Development in Florida
NY Times, May 18, 2023

In March, Disney called Gov. Ron DeSantis of Florida “anti-business” for his scorched-earth attempt to tighten oversight of the company’s theme park resort near Orlando. Last month, when Disney sued the governor and his allies for what it called “a targeted campaign of government retaliation,” the company made clear that $17 billion in planned investment in Walt Disney World was on the line.

“Does the state want us to invest more, employ more people, and pay more taxes, or not?” Robert A. Iger, Disney’s chief executive, said on an earnings-related conference call with analysts last week.

On Thursday, Mr. Iger and Josh D’Amaro, Disney’s theme park and consumer products chairman, showed that they were not bluffing, pulling the plug on an office complex that was scheduled for construction in Orlando at a cost of roughly $1 billion. It would have brought more than 2,000 Disney jobs to the region, with $120,000 as the average salary, according to an estimate from the Florida Department of Economic Opportunity.

The project, known as Lake Nona Town Center, was supposed to cost $864 million, but recent price estimates have been closer to $1.3 billion. Disney had planned to relocate as many as 2,000 employees from Southern California, including most of a department known as Imagineering, which works with Disney’s movie studios to develop theme park attractions.


More:
https://www.nytimes.com/2023/05/18/business/disney-ron-desantis-florida.html?smtyp=cur&smid=tw-nytimes

[roamer_1]

If it was up to me, there's be a wide moat around Reedy Creek and flyover restrictions.

See how the homo groomers like that.

[Kamaji]

I rather doubt that Florida is going to go hurting for alternative investment sources.

[cato potatoe]

It's a shame that Disney is forced to economize after a spate of bad decisions, but those 2,000 democrats need to stay the hell in California.

[Cyber Liberty]

It's working.

[Sighlass]

Lol, the costs in California will be triple that... good riddance.

[Hoodat]

Another win-win for DeSantis and the State of Florida.

[libertybele]

Another win-win for DeSantis and the State of Florida.

 

[Right_in_Virginia]

It's a shame that Disney is forced to economize after a spate of bad decisions, but those 2,000 democrats need to stay the hell in California.

. It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

It would have brought more than 2,000 Disney jobs to the region, with $120,000 as the average salary, according to an estimate from the Florida Department of Economic Opportunity

[Hoodat]

It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

I'm afraid I'm gonna have to disagree with the NY Times on this one, @Right_in_Virginia

[roamer_1]

It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

In the homo grooming industry? Who wants that?

2000 gambling jobs?
2000 prostitution jobs?

Thanks but no thanks.

DeSantis is right. And Right.

[Right_in_Virginia]

Miami mayor says DeSantis ‘personal vendetta’ with Disney is costing state
The Hill, May 18, 2023

Miami Mayor Francis Suarez (R) blasted Florida Gov. Ron DeSantis (R) for his “personal vendetta” with Disney, saying that the yearlong feud has cost the state jobs and investments.

“Look, he took an issue that was a winning issue that we all agreed on, which was parental rights for K through third-graders,” Suarez told NewsNation’s Blake Burman on “The Hill.” “And it looks like now it’s something that spite or maybe potentially a personal vendetta, which has cost the state now potentially 2,000 jobs in a billion-dollar investment.”

Suarez’s comments come after Disney announced Thursday that it would be tossing its plans to build a new billion dollar office complex in Florida that was set to bring thousands of jobs to the region.

“I mean, that’s the kind of stuff that Joe Biden does, you know, he canceled the Keystone pipeline and other pipelines out of spite that cost Americans 42,000 jobs,” Suarez said, speaking of DeSantis. “And you know, one thing that he has in common with the president is he hasn’t spent much time in the private sector. And I wonder if that influences his thinking on some of this stuff.”


More:
https://thehill.com/homenews/state-watch/4011492-miami-mayor-says-desantis-personal-vendetta-with-disney-is-costing-state/

[Smokin Joe]

Spin it or whatever, Miami Mayor. Americans haven't lost those jobs, they will be right there in California. Last I heard, despite the rumors, California is still part of America. Besides, the gays and groomers are more likely to feel at home there.

[roamer_1]

Get woke go broke. And good riddance.

[Hoodat]

More:
https://thehill.com/homenews/state-watch/4011492-miami-mayor-says-desantis-personal-vendetta-with-disney-is-costing-state/

Sorry, I'm afraid I'm going to have to disagree with The Hill on this too, @Right_in_Virginia .

[cato potatoe]

It's not Ike those 2,000 jobs paying $120,000+ could have helped the local economy anyway.

Those people were being transferred, against their will in most cases.  Disney would not offer high paying jobs to icky poo Floridians.  Hard pass on 2,000 smug “imagineers” and their tacky office building.  They can stay out west and imagineer the Black Snow White log flume for Disney Shanghai.

[Hoodat]

I seem to recall a much different tune when it was the Commonwealth of Virginia blocking a Disney theme park from being built in Manassas.  Couldn't find a NY Times hit piece on that?

[Right_in_Virginia]

Those people were being transferred, against their will in most cases. 

So?  Would these 2,000 not need to pay for housing, furnishings,  buy food, clothing, pay taxes?  Wiould they not dine at local restaurants,  enjoy local entertainment?  Would they not have a salary sufficient to support doing all of this?  Would local business not benefit?

[cato potatoe]

So?  Would these 2,000 not need to pay for housing, furnishings,  buy food, clothing, pay taxes?  Wiould they not dine at local restaurants,  enjoy local entertainment?  Would they not have a salary sufficient to support doing all of this?  Would local business not benefit?

Tell you what … recruit them to northern Virginia.  They will fit right in.

[Hoodat]

From the NY Times article:

When he announced the project in 2021, Mr. D’Amaro cited “Florida’s business-friendly climate” as justification.

Mr. D’Amaro’s tone in an email to employees on Thursday was notably chillier. He cited “changing business conditions” as a reason for canceling the Lake Nona project. “I remain optimistic about the direction of our Walt Disney World business,” Mr. D’Amaro said in the memo. He noted that $17 billion was still earmarked for construction at Disney World over the next decade — growth that would create an estimated 13,000 jobs. “I hope we’re able to,” he said.

The memo, which was viewed by The New York Times, did not mention Mr. DeSantis.

Also buried in the article:

The Lake Nona project had initially been scheduled to open next year. Last July, Disney pushed back the move-in date to 2026, citing pandemic-related construction delays.

The Lake Nona campus, about 20 miles from Disney World near the Orlando International Airport, had been championed by Bob Chapek, who served as Disney’s chief executive from 2020 until he was fired last year. Mr. Iger, who came out of retirement to retake Disney’s reins, was much less enthusiastic about the project — even before the company became mired in its battle with Mr. DeSantis. As soon as he returned to Disney, Mr. Iger began telling lieutenants, for instance, that it made little sense to move Imagineering so far away from Disney’s movie studios. As he is fond of saying, “Creative teams need to be together.”

Mr. Iger has been systematically reversing Mr. Chapek’s decisions. In February, for instance, he announced that Disney would restructure its inner workings, ending a framework put in place by Mr. Chapek. In March, as part of wide-ranging layoffs, Mr. Iger shut down a 50-person metaverse project that Mr. Chapek had started.

Disney is also in the midst of cutting $5.5 billion in costs as it seeks to improve profitability, pay down debt and restore its dividend.

So basically, what you have here is purely a business decision by Disney.  Yet one particular poster here is using it to push a false narrative against the current Governor in an attempt to deceive.  Not just a false narrative, but a false narrative perpetrated by perhaps the most liberal newspaper in the country.

[Cyber Liberty]

Tell you what … recruit them to northern Virginia.  They will fit right in.

I agree.  Sounds like they would welcome the Groomers with open arms.

[Right_in_Virginia]

I agree.  Sounds like they would welcome the Groomers with open arms.

Of course not @Cyber Liberty  Why take such a shot because some think DeSantis has lost control of his battle with Disney and Florida's economy looks poised to pay the price. If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.   




.

[roamer_1]

Of course not @Cyber Liberty  Why take such a shot because some think DeSantis has lost control of his battle with Disney and Florida's economy looks poised to pay the price. If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.   




.

I am *ALL FOR* a direct war on stakeholder corporatism, and the use of corporations to support the fascist takeover of our country - Disney among the worst.

You don't know it, but you're selling DeSantis on this subject - And its funny as hell.

[Wingnut]

Of course not @Cyber Liberty  Why take such a shot because some think DeSantis has lost control of his battle with Disney and Florida's economy looks poised to pay the price. If Floridians are happy to pay that price, I personally would wish them the best and gladly stand down.

I care because DeSantis wants to follow his Florida blueprint from the Oval Office ---- and apply his strategic and negotiating acumen to our national and global economies.   



.

Damn you have lost what is left of you orange mind.

You do know that if Disney left Fl how much property could be developed for all the people leaving Blue states.  It is a win win if The House Of  Mouse gets TFO.  Bull Dose the place to the ground.

[Smokin Joe]

I seem to recall a much different tune when it was the Commonwealth of Virginia blocking a Disney theme park from being built in Manassas.  Couldn't find a NY Times hit piece on that?

That was going to be on some of the Battlefield (First and Second Battles of Bull Run/Manassas--War Between the States)