Walt Disney Company Plans To Relocate 2,000 Jobs To Florida For USD 580 Million In Tax Credits


Walt Disney Company has announced shifting around 2,000 jobs to Florida. The move comes at a time when Disneyland, as well as Walt Disney, have started accepting visitors. They both are increased the capacity to normal as more and more people get vaccinated against COVID-19. It is also happening at a time when Walt Disney World is preparing for 50th-anniversary celebrations. The celebrations will begin on October 1. Also, Disney California Adventure is planning for the debut of the all-new Avengers Campus. The company has decided to relocate employees to cash in on USD 580 million in tax credits. According to reports, the company will get tax credits from the state of Florida over the period of the next 19 years. The company is also working on an ambitious plan called Disneyland Forward. Walt Disney is hopeful of getting approval for the plan from the city of Anaheim. As part of this plan, Disneyland’s team will build new attractions, restaurants, and shops in those areas of the existing Disneyland which are not developed. Areas around a parking lot in the east of the resort and two resort-owned hotels are likely to be developed by Disneyland.

Florida is giving tax credits to the company for building and operating a new campus in Orlando. According to the company, it decided to relocate the campus to Florida because of the business-friendly climate of the state. Apart from this, lower income tax and better housing prices are some other benefits. “Florida is famous for rich and dynamic culture and is known for its hospitality. The active lifestyle of Florida is something that attracts many. On top of all this, there is no state income tax,” said Disney executive Josh D’Amaro. However, officials have said that Disney is not completely leaving California. The company has its film and television divisions in Southern California. Also, the relocation will impact more on those who are working with Walt Disney World. Walt Disney said that the number of employees that will be relocated is less than 5 percent of the total staff of Disney staff in California. Another business that will be impacted by the move is Walt Disney Imagineering.

The company said that among those who will be asked to shift to Florida are employees who are part of the Parks, Experiences, and Products division. This will also include employees who work with Disney’s international theme parks. Meanwhile, the company said that the decision to relocate was partially taken before the coronavirus pandemic struck. But the California state government was criticized for the way they handled the situation by enforcing a strict shutdown. Even Disney had criticized the government. With the announcement of this decision, the company has joined the long list of businesses that have abandoned California for better options. According to an extensive list prepared by California Policy Center, there are some big celebrities and enterprises that have left the state. Some major companies on the list are Hewlett Packard, Toyota, Nestle, Oracle, and Dole Food. This also includes names like Elon Musk and Joe Rogan. As a result, California lost thousands of job opportunities. There is no denying the fact businesses are moving out of California and it is no mystery that the main reason behind the exodus is the tax burden. According to the Tax Foundation, California has the 8th highest state and local tax burden.

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Steven Burnett
Being one of the leading news writers of the dailyheraldbusiness, Steven holds a specialization in the domains of business and technology. The passion he has for the new developments in the connected devices, cloud technology, virtual reality, and nanotechnology is seen through the latest industry coverage which is done by him. His take on the consequences of digital technologies across the world gives his writing a modern and fresh outlook.