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We recently reported that The Walt Disney Company is moving 2,000 jobs from California to Florida. Now the company has announced an investment of $ 864 in the new Nona Lake campus.
The $ 864 million is the current projection, although Disney says the cost could increase. At least $ 624 million of the funds will go to equipment and furnishings for the new campus, which is estimated at 300,000 to 400,000 square feet.
Disney applied for and was approved for a capital investment tax credit through the state, which was one of the incentives for the Florida location choice. Its proximity to Walt Disney World was another likely incentive, as most of the jobs will come from the Parks, Experiences and Products division.
The Orlando Business Journal reports that “the company said the benefits of Nona Lake include nearby infrastructure such as available homes, schools that are not at full capacity, and proper suburban roads, as well as the lack of state income tax. The downsides he cited included the potential for disruption by moving jobs from his headquarters, loss of talent, and the potential “poaching” of key executives by other companies. “
The inclusion of “available housing” as a benefit is interesting, given concerns that Disney’s move would have a negative effect on the Lake Nona housing market.
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