ORLANDO, Fla. — Disney may get major tax breaks in moving more than 2,000 employees from Southern California to Central Florida.
What You Need To Know
- Our news partners at the Orlando Sentinel are reporting Disney could get more than half a billion dollars in tax breaks over two decades
- The new Lake Nona regional campus will include imagineers and other employees from the parks, experiences, and products divisions.
Last week, Spectrum News 13 first reported the company's major announcement to build a new regional campus in Lake Nona in Orlando.
Disney leadership said this move over the next 18 months will allow for teams to collaborate more and make a great impact.
Our news partners at the Orlando Sentinel received documents from Florida's Department of Economic Opportunity that Disney's capital investments for the project could be as much as $864 million.
Along with that, the Sentinel is reporting Disney could claim more than $570 million in tax breaks over two decades for this major project, which would be the largest in state history for a single corporation.
Realtors in the area think this will impact home prices.
"I think the Disney move here is going to really increase prices in the area, you've got people coming from California where 4, 5, 6, 700 thousand dollars, a million dollars is nothing, so I really foresee them coming to this area, wanting to be close to work," Lake Nona realtor Kathy Hereford said.
The next year and a half will give employees time to make arrangements.
Disney is still figuring out which employees will be relocating to Central Florida.
The project has been in the works since 2019.
Disney said Florida’s business-friendly environment was another reason for moving more jobs here.