News Reedy Creek Improvement District and the Central Florida Tourism Oversight District

[Stripes]

So the best spin they could come up with is, "Moving 2,000 employees to our state in exchange for a sizable tax break is an unsuccessful venture." Brilliant! I'm sure that won't come up during any hypothetical future televised events where Ron and other people with similar aspirations are on stage taking questions from some sort of journalist while rebutting each other.

And the fact those jobs are staying in “crazy” cAliFoRnIA!

 

[flynnibus]

Not really. Disney and other large corporations do tend to consolidate announcements about various topics into the same day. They also carefully consider what day that will be. For example, if you don't want anyone to hear about it, announce it at 5pm on a Friday.

There is no connection between Starcruiser's closure and the politics of Florida.

And what prevents the Florida leadership from saying "hey, this is a one-two punch for our people... let's announce starcruiser later".

It's not like they didn't know these announcements were happening and there is no true need to do them together or at a specific time. To believe it is mere coincidence while the direct people involved would know about both... is.. far less likely IMO.

 

[Brian]

And what prevents the Florida leadership from saying "hey, this is a one-two punch for our people... let's announce starcruiser later".

It's not like they didn't know these announcements were happening and there is no true need to do them together or at a specific time. To believe it is mere coincidence while the direct people involved would know about both... is.. far less likely IMO.

The PR department generally makes those calls. That said, I do think that @JAB 's theory is correct, and the negative press of Starcruiser closing was intentionally buried by the "juicer" story of DeSantis allegedly costing the state all those jobs and revenue.

 

[Stripes]

 

[LAKid53]

i realize it probably has not a direct connection to this site, but Disney also is completely shutting down the starwars hotel in september. It has only been open a year. (And yess, i know it underperformed) but announcing them both on the same day sends a pretty strong message about reconsidering investment here and also... i know a lot on here were against the relocation, but i live in lake nona and this will have a big impact in my local area.

Yes it will. Losing 2000 jobs paying an average of $120K will have a big impact.

 

[flynnibus]

The PR department generally makes those calls. That said, I do think that @JAB 's theory is correct, and the negative press of Starcruiser closing was intentionally buried by the "juicer" story of DeSantis allegedly costing the state all those jobs and revenue.

if you were talking general corporate activities... I'd agree more. But you're talking about the executives who lead over 75k employees.. which is a large portion of the company.. in topics that largely are about employees. They wouldn't be voiceless in such matters.

The starcruiser announcement is the baby here... I wonder how much press it would have gotten on any other day.

 

[GhostHost1000]

And the “energy efficient” air conditioning in the hotels where you wake up in a pool of your own sweat.

Magical sweat. Part of the perks of staying onsite lol

 

[JohnD]

2,000 jobs at an average salary of $120,000 is $2.4B in salary paid over the first decade. That’s a lot of money that can be spent on big things like housing and paying local taxes, but it’s also ancillary stuff like haircuts and dinners out and auto sales/repairs and home improvement projects, etc…. It’s a big blow to the local economy.

True. Lost economic impact to the area: taxes, gasoline, utilities, every day spending, etc.

 

[JohnD]

i realize it probably has not a direct connection to this site, but Disney also is completely shutting down the starwars hotel in september. It has only been open a year. (And yess, i know it underperformed) but announcing them both on the same day sends a pretty strong message about reconsidering investment here and also... i know a lot on here were against the relocation, but i live in lake nona and this will have a big impact in my local area.

Well the "hotel" wasn't doing well anyway and was losing money. Might as well cut its losses regarding its WDW expenditures. While the DeSantis admin has a point about Disney stock being down etc., you can't argue with the loss of the economic impact to the area from Disney employees who would otherwise simply live in Central Fla.

 

[GoofGoof]

True. Lost economic impact to the area: taxes, gasoline, utilities, every day spending, etc.

Hopefully for the state this is a one off and not the start of a trend. FL spent decades building a business friendly reputation but that’s at best on hold for now and at worst starting to be wiped out completely. All for the benefit of one man’s ego . We talked about this a year ago when this all started. Many of us thought “cooler heads would prevail”. Many DeSantis backers claimed he didn’t really want to hurt Disney’s business in FL and it was just a stunt and PR. Looks like we were all wrong. Other businesses have taken notice too. I work for a company that does large projects all over the country and FL is on a watch list now for political uncertainty. It doesn’t mean people won’t invest there, just that there’s a higher risk premium on any project making them less appealing.

 

[Lilofan]

Everyone buying the PR spin I see. Iger rubbing his hands together.

Not surprising , several years ago one proudly boasted on record " We won with the highly educated , we won with the poorly educated , I love the poorly educated". I've read recent posts on Fox on Disney/DeSantis , wow some are really lining up and drinking the Kool-Aid.

 

[Nubs70]

2,000 jobs at an average salary of $120,000 is $2.4B in salary paid over the first decade. That’s a lot of money that can be spent on big things like housing and paying local taxes, but it’s also ancillary stuff like haircuts and dinners out and auto sales/repairs and home improvement projects, etc…. It’s a big blow to the local economy.

The cancelling of this project is also in the financial interest of DIS.

As there is a glut of commercial real estate currently with an expected crash in the valuation of commercial real estate, the anticipated value in respect to NPV of the project makes the project unjustifiable.

Could be DeSantis, fiscal prudence, or a bit of both.

 

[Chi84]

Lead story on the Apple News feed:

Disney cancels plans for $1 billion campus, 2,000 jobs in Florida — Reuters

Walt Disney Co is scrapping plans to build a nearly $1 billion corporate campus in central Florida that would have housed 2,000 employees, according to an e-mail to employees on Thursday, against the backdrop of its ongoing legal battle with Florida Governor Ron DeSantis.

apple.news

DeSantis better declare victory and move on soon.

 

[flynnibus]

As there is a glut of commercial real estate currently with an expected crash in the valuation of commercial real estate, the anticipated value in respect to NPV of the project makes the project unjustifiable.

Considering the project was already launched after all the uncertainty commercial real estate was facing post-pandemic... You'd expect that to already be baked in. Disney was looking to build a purpose built campus... not just get A+ office space at the best rate around.

 

[JoeCamel]

The cancelling of this project is also in the financial interest of DIS.

As there is a glut of commercial real estate currently with an expected crash in the valuation of commercial real estate, the anticipated value in respect to NPV of the project makes the project unjustifiable.

Could be DeSantis, fiscal prudence, or a bit of both.

As they say a win win for the mouse
Too bad for those caught up in the move though, many sad stories and much pain and disruption of families.

 

[flynnibus]

Lead story on the Apple News feed:

Disney cancels plans for $1 billion campus, 2,000 jobs in Florida — Reuters

Walt Disney Co is scrapping plans to build a nearly $1 billion corporate campus in central Florida that would have housed 2,000 employees, according to an e-mail to employees on Thursday, against the backdrop of its ongoing legal battle with Florida Governor Ron DeSantis.

apple.news

death to apple news URLs - I don't want their stinkin app

 

[Chi84]

death to apple news URLs - I don't want their stinkin app

Fine I’ll put you in touch with my Apple hating son. My point was a lot of people do have them and this is what they’re seeing.

 

[mkt]

And the fact those jobs are staying in “crazy” cAliFoRnIA!

The problem there will be the housing shortage. California has something like 2.5 well paid jobs for every house that's actually available to purchase.

 

[flynnibus]

Fine I’ll put you in touch with my Apple hating son. My point was a lot of people do have them and this is what they’re seeing.

I just say get the URL from the site instead of apple's lame share. I can't even click the link in my desktop browser without it going to try to install apps. It's not that I hate apple... I hate sites that try to funnel you through their apps instead of the web. Like apple news and podcasts

Disney cancels plans for $1 billion campus, 2,000 jobs in Florida

Walt Disney Co is scrapping plans to build a nearly $1 billion corporate campus in central Florida that would have housed 2,000 employees, according to an e-mail to employees.

www.reuters.com

 

[GoofGoof]

The cancelling of this project is also in the financial interest of DIS.

As there is a glut of commercial real estate currently with an expected crash in the valuation of commercial real estate, the anticipated value in respect to NPV of the project makes the project unjustifiable.

Could be DeSantis, fiscal prudence, or a bit of both.

Doesn’t Disney own the land already? So if real estate value is dropping isn’t it worth less now if they dump it back on market? Not moving the jobs saves them some relocation costs and obviously the cost of constructing the building but they also lose the tax credits. Short term it’s a financial gain to cancel but long term it’s harder to say.