Disney Could Be In Talks Of Moving Some California Operations to Florida
Disneyland has had a tough go of trying to reopen its theme parks in California. The Governor of California has just recently put in place another stay-at-home order for all of southern California, including Anaheim.
The Walt Disney Company is in talks of possibly moving some of its headquarters from California, to Lake Nona in Florida. However, nothing is set in stone. No word on which division would move or how many people would relocate to Lake Nona.
“As the largest employer in Central Florida, we are always exploring opportunities for additional locations within the vicinity of our theme park but there is nothing concrete,” a Disney spokesperson told OBJ.
“We’ve seen time and time again in last 12 months corporations leaving California for other markets that are business-friendly,” sources said. “You look at what happened to the [theme] parks in California versus Florida. That’s a big financial impact on the organization, coupled with the cost of operations and personal income tax for employees in addition to other California regulations.”
It isn’t entirely unlikely for operations to move out of California. Disney is just trying to follow suit like many other major corporations such as Hewlett Packard and Oracle Corp. (NYSE: ORCL) from California to Texas — and even Elon Musk’s Tesla Inc. (Nasdaq: TSLA), to moving to places with less restrictions.
Under restrictions put in place in California by Governor Gavin Newsom, stay-at-home orders can only be lifted once the regions have moved back to an ICU capacity of at least 15%. Even then, there needs to be a reason to believe that the level will stay above 15% for at least four weeks before the order is gifted.
In a statement released, state officials said, “It is likely that the Regional Stay at Home Order will extend for many regions in California. It continues, “Regions must remain under the Regional Stay at Home Order for at least three weeks and shall continue until ICU capacity projections for four weeks from the day assessed are above or equal to 15%.”
We will keep up with the development of this possibility and of course, keep our readers updated.
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