Subsidy Tracker Individual Entry

Company: 
Walt Disney Co.
Parent Company: 
Walt Disney
Subsidy Source: 
state
Location: 
Florida
City: 
Lake Nona
County: 
Orange
Project Description: 

relocation of Disney's Parks, Experiences and Products division and offices

Year: 
2021
Major Industry of Parent: 
entertainment
Specific Industry of Parent: 
entertainment
Subsidy Value: 
$570,000,000
Program Name: 
Capital Investment Tax Credit
Awarding Agency: 
Department of Economic Opportunity
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
2,000
Capital Investment: 
$864,000,000
Source of Data: 

Ryan Lynch, "Disney to invest $864M for campus to house California jobs it's moving to Lake Nona," Orlando Business Journal (Florida), July 21, 2021. FLDEO incentive portal is at https://fldeoportal.secure.force.com/IncentivePortalSearch_Lightning

Notes: 

In February 2020, Walt Disney Corporation was approved by Florida Dept. of Economic Opportunity for income tax credits valued at about $570 million over 25 years. In return, Disney will relocate its park and resort corporate offices from Burbank, CA to Lake Nona in the Orlando suburbs. The deal was announced in summer 2021. (Florida laws allow subsidy deals to be kept confidential for at least 180 days after approval; however, it is unclear if this was the reason for a delay in the announcement). We used the year of the announcement as the subsidy year. For jobs and investments, we used amounts detailed in press accounts. However, the deal entry in FLDEO's incentive portal shows 100 jobs and $25 million investment commitment, CIT program minimum requirements; no subsidy value is provided. As of November 2021, no information on local subsidies was available. Overlaps with main data: none.

Source Notes: 
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