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

[tissandtully]

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.

Don’t bring up haircuts, Michael Sasso is pretty sensitive

 

[LAKid53]

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.

That it is. And that the governor is so cavalier about that fact is shocking.

 

[LAKid53]

That's not how stocks work.

Unless there is a huge crash in stocks (for example, an 90% drop), the price of the stocks doesn't affect a business's cash flow or its bottom line.

Disney made over a billion dollars last quarter. That figure would be the same whether DIS stock went up 20% or down 20%.

And cash on hand doesn't change when stocks go up or down.

Correct.

 

[tissandtully]

That it is. And that the governor is so cavalier about that fact is shocking.

Just for the cameras

 

[harry58]

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.

 

[GoofGoof]

Here is an article about the current cancelled project. It does have some questionable language in it (I would personally allow it….but buyer beware). The section below highlights what we have been talking about.

In a memo to Disney employees, theme parks and consumer products head Josh D’Amaro announced the company would be putting the kibosh on the project, which would have been located next to the Lake Nona Town Center. The planned 1.8 million square foot complex outside of Orlando, which was internally controversial for a number of reasons when it was announced in 2021, would have involved the relocation of many employees from California to Florida, with D’Amaro citing Florida’s “business-friendly climate” as the reason for the change.

Apparently, however, the Disney company no longer deems Florida sufficiently “business-friendly.” In the memo sent Thursday, D’Amaro said he would be canceling the project due to “changing business conditions” in the state, though he “remain[ed] optimistic” about the evolution of Walt Disney World in general.

DeSantis Officially Enters the ‘Find Out’ Phase of His War With Disney

Disney just canceled a $1 billion building complex that would've brought 2,000 jobs to Florida. Whoops!

www.yahoo.com

 

[Brian]

announcing them both on the same day sends a pretty strong message about reconsidering investment here

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.

 

[harry58]

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.

i said that it probably had no connection, but the announcement on the same day has tied them together in the public mind (here in lake nona at least) i just watched the local news. i feel this was intentional you of course are entitled to think not, since i have no evidence. but it was all rolled into the same story on local news

 

[Lilofan]

That hasn't been the case at WDW in a while and is one my biggest peeves of the past decade or so of penny-pinching.

I've noticed that to. When the park opened we entered some attractions and seemed like the AC was barely working. Cast in that location advised the AC gets turned on when the park opens for the day.

 

[GoofGoof]

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.

Yeah that one is just a write off. It only has 100 rooms (at a very high price) so it had to be full most of the time to turn a profit. Based on recent sales it was not.

 

[BuddyThomas]

Here is an article about the current cancelled project. It does have some questionable language in it (I would personally allow it….but buyer beware). The section below highlights what we have been talking about.

In a memo to Disney employees, theme parks and consumer products head Josh D’Amaro announced the company would be putting the kibosh on the project, which would have been located next to the Lake Nona Town Center. The planned 1.8 million square foot complex outside of Orlando, which was internally controversial for a number of reasons when it was announced in 2021, would have involved the relocation of many employees from California to Florida, with D’Amaro citing Florida’s “business-friendly climate” as the reason for the change.

Apparently, however, the Disney company no longer deems Florida sufficiently “business-friendly.” In the memo sent Thursday, D’Amaro said he would be canceling the project due to “changing business conditions” in the state, though he “remain[ed] optimistic” about the evolution of Walt Disney World in general.

DeSantis Officially Enters the ‘Find Out’ Phase of His War With Disney

Disney just canceled a $1 billion building complex that would've brought 2,000 jobs to Florida. Whoops!

www.yahoo.com

I don’t blame them a bit. Why would they build one more thing with everything that is going on in that state? Any plans I may have had to visit are completely cancelled. I wouldn’t be caught dead there in the current environment- well - maybe I would be caught dead there because if I had an accident, a doctor can now choose to refuse to treat me. The Broadway community has discussed the idea of national tours of shows avoiding Florida altogether…..but I’ll believe that one when I see it. So yeah, whatever the reasons Disney has for cancellation of the project, I’m all with them not doing anything else in that state at this time.

 

[Chip Chipperson]

DeSantis office saying it’s not their fault basically

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.

 

[Stripes]

After the Florida tax credits, the real cost of the development was around $300 million.

I don’t know how much the GC3 buildings are worth, but if Disney sold those, the project may have paid for itself.

 

[JAB]

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.

The Lake Nona news has been widely picked up and reported as FL losing out on money because of DeSantis, so outside of Disney news sites, the failure of Galactic Starcruiser is getting buried by the Lake Nona story. I wouldn't be surprised if releasing the news on the same day was done on purpose for exactly that reason.

 

[BuddyThomas]

I've noticed that too. When the park opened we entered some attractions and seemed like the AC was barely working. Cast in that location advised the AC gets turned on when the park opens for the day.

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

 

[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.