Florida easily has the upper hand in this, its not like they are going to up and move the theme parks. Florida will win no matter what.
I fail to see how.
First of all, I doubt this will even happen but if it did Disney will fight this with every dollar they have. It'll be tied up in the court systems for years, spanning multiple administrations and legislatures costing the state millions of dollars. And most sensible legislators know this.
In the end, all this saber rattling is going to do is hurt the parks. Chapek and Disney's Board has been focused for years on digital content. They're trying to move the company toward that goal.
The Parks are a legacy product. It's only about 1/4 of the company's revenue. They'll be some at Disney that will look at this and say, you know what? Forget the 5th park. Forget the expansions. Forget the new hotels. We'll just spend our money on Disney+, the metaverse (whatever that is), sports betting or [insert trending Wallstreet idea here].
The only park that's made any money for them in the last few years is Walt Disney World.
Disneyland, typically an OK moneymaker, was closed for a year. Shanghai had huge cost overruns but was doing well until COVID and now it's a bust. Hong Kong has never made money and Paris has had maybe a handful of positive quarters in its entire history.
They could easily let the domestic parks stagnate and sell them off years from now. Maybe they'll go ahead and keep Disneyland for giggles? The one advantage to the Florida property is they've been able to use it as collateral to acquire additional lines of credit.
This just gives those park dissenters in the company more clout.
Reedy Creek Improvement District is an excellent example of why companies DO involve themselves in politics and why they likely always will.
RCID would never have happened had Disney _not_ engaged politically.
RCID was primarily put in place because of the promise of EPCOT. Walt Disney intended to build a city of the future. There was nothing but swamp there. He needed that authority to make it happen. Like Nabas says below...
Politics or not, I don't think anything like RCID would happen again today.
Except that Universal has no such special law and yet has successfully built theme parks and hotels over the last few decades, with construction for a third Universal theme park well under way.
When the RCID was created in 1967, central Florida was mostly backcountry. It had little infrastructure. In 1960, Orange County had a population of 263,000. (Compared to 1.4 million today.)
The 1960s central Floridia government was not equipped to handle the overhead and paperwork associated with a project the size of Walt Disney World. That's simply not true today.
Really, there is no reason for RCID to exist anymore. The current Orange County government has demonstrated that it can oversea Universal's building requirements, and today's Orange County is up to handling WDW's requirements too.
The only thing I would disagree with is Orange and Oceola County's ability to regulate. They would have to expand their underfunded local governments to regulate Disney. It's much bigger than Universal. It would be a huge undertaking to regulate all utilities, roads, building structures, multiple hotel and restaurants, etc. with little or no cooperation from RCID.
I really doubt they're interested. They get most of the property tax money anyway for doing very little.
Disney has a lot of office jobs in Florida that could easily be moved elsewhere if they feel there’s some sort of retribution against their public stances on social issues. If their ability to build new buildings and attractions is affected, that means less revenue going to Florida. Disney has been willing to up and leave for any number of reasons. Mostly it has to do with money and business climate. If they feel that their business is being sabotaged due to a vendetta, they can certainly reduce their business footprint in Florida.
But this isn’t going to happen. There’s no real appetite in the legislature to do it. The discussion is really just one man’s blabbering, which he can’t carry out without a lot of help.
https://www.clickorlando.com/news/l...uss-repealing-disneys-reedy-creek-government/
This is why I think this is such a huge mistake for Florida lawmakers. Forget Disney. You have every Fortune 100 company watching this. Florida has spent decades trying to promote itself as THE pro-business state.
You don't like California's taxes, laws or big government? Come to Florida! Now, you're going to retaliate against your biggest employer because they spoke out against your targeted, yet purposely ambiguous, parental rights bill. How's that look? The future of Florida's economy isn't Publix, it's Google,
Amazon and Apple.
Look at this list:
https://www.hrc.org/press-releases/...s-to-oppose-anti-lgbtq-legislation-in-florida
You may not like those company's politics, but jobs are more important to constituents than divisive stands on "social issues."
I'd be careful to not overplay my hand. Political "heroes" and their campaigns come and go, it's a lot harder to repair ramifications from disastrous policy decisions.