According to the Orlando Sentinel’s Austin Fuller, Disney, due to its recently announced move of 2,000 Disney Parks, Experiences and Products cast members, is eligible to receive more than half a billion dollars in tax breaks from the state of Florida.
Disney’s application states that the “Taxpayer intends to establish a regional campus that will take this international enterprise into the 21st century with a state-of-the-art modern overhaul of the operational software systems that helps drive the success for this company to create an efficient management system.” Disney’s forthcoming Lake Nona corporate campus is slated to be approximately 300,000 to 400,000 square feet.
Disney was deemed eligible for the state tax breaks in February 2020 via Florida’s Capital Investment Tax Credit program. All told, according to documents requisitioned by the Sentinel and released by Florida’s Department of Economic Opportunity, Disney could see $570 million in tax breaks over 20 years for the new Lake Nona campus.
Source: Orlando Sentinel