Disney could expand its investment in California, after the company's announcement Walt Disney Company that the corporation pulls out of its nearly billion-dollar office complex that was scheduled to be built in Orlando, Florida, as some of the investment could make it to the "golden state."
It was expected that, with the project, two thousand jobs that were in California would go to Florida. What will no longer happen. Therefore, these sources of employment will remain in their place of origin.
"Authoritarian policies have consequences," said the governor Gavin Newsom. "This announcement is a victory for California and the tens of thousands of Disney employees who know they can live in a state where they are respected and safe. Disney has invested billions of dollars in California and we look forward to further investment and growth in our state."
Disney's action follows the governor's ongoing conversations with the company and the public, urging the entertainment giant to continue to grow and invest in his home state of California.
California's economy continues to dominate the nation and it will soon become the fourth largest economy in the world.
California, which has the fairest tax system in the country, is number one in the nation for new business openings, access to venture capital financing and tourism spending.
Notably, business license applications increased 46.6 percent in California from last year, the largest increase of any state.
Disney decided to cancel its plans to build an office complex in Florida, citing "changing business conditions," according to a memo provided by a Disney spokesperson.
Disney's financial action comes in an environment where the company is in a public confrontation with Florida Governor Ron DeSantis, who may officially launch his candidacy for the US presidency in 2024.
Added to this decision are the company's difficulties in the advertising guidelines market, while facing a massive strike by scriptwriters. Earlier this year, the company announced it would cut 7,000 jobs as part of a cost-cutting effort.
In addition to the announcement, Disney confirmed the closure of its "Star Wars: Galactic Starcruiser" resort at Disney World, just over a year after opening.
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