Orlando Becoming East Coast Headquarters for Disney Parks, Experiences, and Products

[WannaGoNow]

Do you have any idea what 2,000 full relocation packages cost? $50 million, easily.

But you're right, Disney did this for no discernable financial benefit whatsoever

Why, yes, I am very familiar with relocation packages. International ones, even.

Sr. Execs will be given white glove housing assistance and other perks, but the lower down the position, the less incentives will offered. And I’m doubtful the bulk of people are Directors or above.

Also, I’m confused. You’re arguing that Disney is spending $50M and that’s a financial benefit?

They’re moving the people because a) Disney is all about synergy, and they apparently feel Orlando would provide more synergy (and thus operational cost savings) than Glendale, where the Creative Campus is filled to bursting, and Anaheim is also out of room, with Disney looking to turn offices into additional resort space and b) Josh D’Amaro most recently came from Orlando and he probably thinks highly of execs he left behind. And yes, they will eventually save money on salaries, because Disney will adjust for cost of living.

Disney re-orgs on a regular basis. The only constant at Disney corporate is changing how, who and where people report.

I think this is slightly outdated thinking. Florida is a lot sexier now than it used to be.

I also think you're missing that California keeps a lot of people away, too. I know I'd never move to a place where I'd need $2 million to buy a decent four bedroom house within 30 minutes of my office.

I think you're NET correct, it's easier to get talent to California than Florida. But I don't think it's especially drastic.

The one factor not taken into account is that employees - especially engineers and other tech types - are compensated commiserate to their cost of living. Which is why Silicon Valley is still much sexier than Florida (and it’s only 73 degrees in San Jose today). Not that Silicon Valley doesn’t have its deep problems, but acquiring talent is not one of them.

 

[Mouse Trap]

I think this is slightly outdated thinking. Florida is a lot sexier now than it used to be.

I also think you're missing that California keeps a lot of people away, too. I know I'd never move to a place where I'd need $2 million to buy a decent four bedroom house within 30 minutes of my office.

I think you're NET correct, it's easier to get talent to California than Florida. But I don't think it's especially drastic.

Not especially drastic, but it’s quite a drop off. Starting at the entry level California has USC, UCLA, UCI and Stanford all which are superior to every college in Florida.

Then we get need to look at the in-city and in state talent pools at a more experienced level. Orlando doesn’t have nearly the same volume of options as Los Angeles.

I own a fair bit of real estate in Orlando, so trust me I LOVE seeing Orlando grow, but I’ve spent enough time in both cities to see the differences in career and educational opportunities.

 

[CaptainAmerica]

Why, yes, I am very familiar with relocation packages. International ones, even.

Sr. Execs will be given white glove housing assistance and other perks, but the lower down the position, the less incentives will offered. And I’m doubtful the bulk of people are Directors or above.

Also, I’m confused. You’re arguing that Disney is spending $50M and that’s a financial benefit?

They’re moving the people because a) Disney is all about synergy, and they apparently feel Orlando would provide more synergy (and thus operational cost savings) than Glendale, where the Creative Campus is filled to bursting, and Anaheim is also out of room, with Disney looking to turn offices into additional resort space and b) Josh D’Amaro most recently came from Orlando and he probably thinks highly of execs he left behind. And yes, they will eventually save money on salaries, because Disney will adjust for cost of living.

Disney re-orgs on a regular basis. The only constant at Disney corporate is changing how, who and where people report.


The one factor not taken into account is that employees - especially engineers and other tech types - are compensated commiserate to their cost of living. Which is why Silicon Valley is still much sexier than Florida (and it’s only 73 degrees in San Jose today). Not that Silicon Valley doesn’t have its deep problems, but acquiring tech talent is not one of them.

Disney pays full relocation for even entry-level white collar staff. Door to door household goods, packing and unpacking, temporary housing, rental cars, pre-move home search, real estate commission assistance on the sale of an existing house, all of it.

 

[doctornick]

Well, that’s 5th gate confirmed

Obviously not a 5th gate and I'm sure this is about cost savings more than anything, but... I do hold out some hope that maybe this means there are some plans to do some expansion at WDW to compete with Epic Universe. I really don't think they can just sit back after opening up their remaining active builds in 2022.

 

[CaptainAmerica]

Not especially drastic, but it’s quite a drop off. Starting at the entry level California has USC, UCLA, UCI and Stanford all which are superior to every college in Florida.

Then we get need to look at the in-city and in state talent pools at a more experienced level. Orlando doesn’t have nearly the same volume of options as Los Angeles.

I own a fair bit of real estate in Orlando, so trust me I LOVE seeing Orlando grow, but I’ve spent enough time in both cities to see the differences in career and educational opportunities.

I notice you didn't say you own a fair bit of real estate in Southern California.

 

[el_super]

Any CA based creative folks enjoying CA legalized recreational bud are no longer going to go that route relocating to FL.

That, and many other things, can be fixed if enough Californians move to Florida.

 

[lazyboy97o]

For sure. But if I remember correctly some 90% of UPR is in Orlando with most executive leadership there as well.

That move was done years ago. It had nothing to do with Epic Universe (or Universal Studios Beijing).

 

[TrainsOfDisney]

Any CA based creative folks enjoying CA legalized recreational bud are no longer going to go that route relocating to FL.

For sure. No Disney CM’s in Florida have EVER gotten high *looks around nervously*

 

[TYOTimer]

Obviously not a 5th gate and I'm sure this is about cost savings more than anything, but... I do hold out some hope that maybe this means there are some plans to do some expansion at WDW to compete with Epic Universe. I really don't think they can just sit back after opening up their remaining active builds in 2022.

I was trying to joke around with that, but, there’s been murmurs about a 5th gate announcement coming in the 100th anniversary announcements in 2023/2024ish. While I don’t think it’ll come to fruition, it could be interesting to see what their new plans are when/if the EPCOT projects already started get finished around 2023 at the earliest

 

[el_super]

I’ve heard this could be a formation of an “Orlando team” like there was pre-Eisner, but I could be wrong. But I’d expect Cali Imagineering to stay

I'm already hearing theres a good chance WDI is vacating the 1401 Building. 18 months is a long time for them to change their mind though...

 

[TYOTimer]

For sure. No Disney CM’s in Florida have EVER gotten high *looks around nervously*

And especially none that have EVER gone into work higher than the peak of Expedition Everest

*looks at a CM I interacted with at IASW a few weeks back*

 

[Sirwalterraleigh]

I think this is slightly outdated thinking. Florida is a lot sexier now than it used to be.

I also think you're missing that California keeps a lot of people away, too. I know I'd never move to a place where I'd need $2 million to buy a decent four bedroom house within 30 minutes of my office.

I think you're NET correct, it's easier to get talent to California than Florida. But I don't think it's especially drastic.

Have you ever lived in Florida?

 

[Mouse Trap]

I notice you didn't say you own a fair bit of real estate in Southern California.

Admittedly, only one home in SoCal. But what’s your point?

 

[WannaGoNow]

Disney pays full relocation for even entry-level white collar staff. Door to door household goods, packing and unpacking, temporary housing, rental cars, pre-move home search, real estate commission assistance on the sale of an existing house, all of it.

Door to door households goods, yes, but not the temp housing, not the real estate commission, not the home search, not the rental car (and the position was far from entry level). Sr. execs, sure. But now it’s just one internet rando’s word against another. I hope they are generous, for the employees’ sakes. We’ve had full and not-so-full packages. Having a full does make things easier.

Still not sure how spending $50M is a financial benefit to them, however.

 

[CaptainAmerica]

Have you ever lived in Florida?

2011-14, near the bottom of the unsexy times.

 

[Sirwalterraleigh]

2011-14, near the bottom of the unsexy times.

Then you should know better than to talk about how “attractive” it is…nothing ever changes.

people constantly complain about taxes…but rarely highlight they accept crappy schools, crappy infrastructure, stupid user fees, crappy government, et al in lieu of them.

 

[CaptainAmerica]

Admittedly, only one home in SoCal. But what’s your point?

Engineers and tech talent care about cost of living too.

 

[Sirwalterraleigh]

I notice you didn't say you own a fair bit of real estate in Southern California.

limited amounts of high value real estate vs ample amounts of worthless real estate that is volatile is probably a wash

 

[WannaGoNow]

How many relocation packages have you received from the Walt Disney Company? Because I've received two. My relocation package as an *undergrad* was valued over $15,000, not counting signing bonus. That was ten years ago.

Obviously spending $50 million isn't a financial benefit. My point being, the other math needs to be hugely favorable in order to overcome that and all of the other upfront costs.

One from TWDC (and less than ten years ago), several from another large media company.

A relocation for a recruited position is vastly different than moving a division.

 

[Mouse Trap]

Engineers and tech talent care about cost of living too.

What do my real estate holdings have to do with engineers and tech talent? Still not sure why you brought that one up.

Back on topic: They also care about jobs — which Orlando does not have anywhere near the same quantity and diverse options as Los Angeles.

Creative talent is abysmal in Orlando and same with tech. Engineering has a decent presence, but still pales in comparison to Los Angeles.