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Disney to invest $17 billion in Florida despite dispute with DeSantis.
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Posted by: LateForLunch ®

05/27/2023, 00:05:21

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The decision not to build a headquarters supposedly costing Florida $1 billion and 2,000 jobs (yawn) is not really a big deal when you realize Florida's economy is growing so fast that it will make up that "loss" in about a week with other companies and other investors/employers coming in from other states or expanding operations there. 

Iger knows that Disney has a Hobson's Choice - they cannot realistically divest their Florida investments without a literally- catastrophic cost, so they must remain in Florida. 

Though Iger engages in spirited back-and-forth with Gov. DeSantis with verbalizations and token retaliation, the fact is that DeSantis's approval has increased overall since he led the Florida government to revoke Disney's special privileges, while Disney's brand approval has lost significant points with the public. 

The legal issues in regard to the realignment of governance of the Disney development are reaching their conclusion, with no sign of any of the catastrophic consequences Disney threatened initially when the dispute first arose. Taxes will not be raised on residents within the state, Disney is not closing their parks, and the obligation to fulfill debt payments for the bonds being held are being retained by Disney, not the State of Florida.

Sounds to me like DeSantis is coming out of the dispute in great shape, while Disney is reeling.  






Modified by LateForLunch at Sat, May 27, 2023, 00:15:37


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