According to a report from Bloomberg, the $578 million tax break that Disney will receive for moving its theme park division from California to Florida remains in place amidst an attack from Republicans and Florida Governor Ron DeSantis on the Reedy Creek Improvement District.
The tax break incentives were a critical part of Disney’s decision to relocate from California to Lake Nona, Florida, according to documents obtained for the report. Spokesperson Christina Pushaw said DeSantis hasn’t asked the legislature to repeal the tax credits for Disney. Instead, Pushaw noted that the incentives are “not a carve-out for a specific corporation.” Pushaw noted that any company can apply for the credits and that the bigger investments will qualify for bigger tax credits. Disney’s investment is north of $850 million.
State officials certified the tax credits for Disney back in February 2020 and Disney is currently in the process of building a massive campus in Lake Nona, Florida – a 30-minute drive from Walt Disney World.
Following DeSantis’ signature on legislation dismantling the Reedy Creek Improvement District, many questions remain about the logistics of such a move. Disney has not responded publically to the bill, which is set to take effect in summer 2023, barring any (likely) challenges from Disney.
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!