Quantcast

Fla. May Pay ‘Woke’ Disney $570M in Tax Breaks So It Can Escape California

'We call this interstate job fraud...'

(Headline USA) The Walt Disney Co. stands to benefit from more than a half billion dollars in tax breaks for building a new regional campus in Florida that promises to employ at least 2,000 professional employees who will be relocating from southern California to work in digital technology, finance and product development.

The company could claim more than $570 million in tax breaks over 20 years for the project, which would be among the largest in Florida history for a single corporation, according to documents obtained Wednesday through a public records request by the Orlando Sentinel from the state’s Department of Economic Opportunity.

Disney’s capital investment for the project could be as much as $864 million, the documents showed.

The company already has a theme park resort in central Florida that is the size of the city of San Francisco.

...article continued below
- Advertisement -

Last year, Disney criticized California Gov. Gavin Newsom for his “unwillingness to lift restrictions that would allow Disneyland to reopen.”

The company has come under much criticism recently for its “woke” politics, including removing conserative actress Gina Carano from Disney show “The Mandalorian;” coddling Marxist Black Lives Matter while ignoring persecution of minority groups in China; and partnering with anti-cop NFL veteran Colin Kaepernick for a documentary about his life.

Disney is eligible for the incentive money under Florida’s Capital Investment Tax Credit program, for which it was approved in February 2020, Christina Pushaw, press secretary for Gov. Ron DeSantis, told the newspaper.

In a statement to the Sentinel, Disney said the company was utilizing the incentive program offered by the state and “making a sizable investment in this community where we have a long-standing presence and commitment.”

...article continued below
- Advertisement -

But Greg LeRoy, executive director of a nonpartisan research center on incentives, Good Jobs First, called the incentives “worse than a zero-sum game.”

“We call this interstate job fraud,” LeRoy said. “At the end of the day, you’ve also got less revenue available for public services.”

Under Florida’s Capital Investment Tax Credit program, companies can reduce their corporate income tax by receiving an annual credit based on eligible capital costs from certain projects.

Those costs include acquisition, construction, installation and equipping the project.

The state has dangled hundreds of millions of dollars in tax incentives to other companies in recent years.

Universal Orlando is in line for nearly $350 million in state tax breaks to build a new headquarters for a division that designs its theme parks, rides and hotels.

In 2006, biotech company Sanford Burnham received $300 million in state and local taxes to move to Orlando but had to return some of the funds for failing to meet the requirements in its original incentive agreement.

Three years earlier, the Scripps Research Institute got $600 million in state and local tax money to set up in Palm Beach County.

Adapted from reporting by Associated Press.

- Advertisement -

TRENDING NOW

Blue-State AGs Warn Biden to Treat Haitians ‘Better’ Based on ‘Whips’ Lie

New York Attorney General Letitia James and 17 Democrat attorneys general co-signed a letter to President Joe Biden and his administration reprimanding him for...

NIMBY: Arizonans Favor Helping Afghanis; Just Don’t Move Them to Arizona

(Cole Lauterbach, The Center Square) Arizona voters predominantly are welcoming of their new neighbors who fled a Taliban takeover of their home country but are...

SCHIFF: Criminal Contempt for Trump Officials Who Don’t Help Jan. 6th Committee

Rep. Adam Schiff, D-Calif., chairman of the House Intelligence Commitee, floated possible criminal contempt charges for those who refuse to cooperate with the Jan....

Maricopa County Auditors Conclude: ‘Election Should Not Be Certified’

The Arizona Senate Judiciary Committee on Friday released a 110-page forensic audit report on the 2020 presidential election, and the auditors concluded in an...

Biden Could Owe More Than $500K in Back Taxes

President Joe Biden could owe more than $500,000 in back taxes, according to a new report published by the nonpartisan Congressional Research Service. In 2019,...

Texas Migrant Camp Finally Empty, Haitians Await Word On Their Fate

(Associated Press) No migrants are left at a Texas border encampment, about a week after nearly 15,000 people — most of them Haitians —...

CDC: Afghanis Potentially Spreading Infectious Diseases

(Bethany Blankley, The Center Square) The U.S. Centers for Disease Control and Prevention (CDC) is recommending that medical professionals and clinicians be on alert for...

New Non-Laptop Emails Show More Hunter Biden Ties to China

President Joe Biden's son, Hunter Biden, attempted to acquire an annual $2-million retainer to aid in the recovery of Libyan assets frozen by President...

88-Year-Old Chuck Grassley Will Seek Re-Election to Senate Seat

(Associated Press) Iowa Sen. Chuck Grassley, the longest-serving Republican senator, said Friday that he will seek an eighth term in 2022, giving the party more...
- Advertisement -