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Report: Disney May Get $ 570 Million With Tax Deductions On New Campus | Entertainment



Fireworks fill the sky for the first time in 15 months at Walt Disney World’s Magic Kingdom in Lake Buena Vista, Florida, on Thursday, July 1, 2021 after a coronavirus shutdown.


John Laux


Associated Press

Orlando, Florida (AP) — Walt Disney Co. promises to hire at least 2,000 professional employees relocating from Southern California for more than $ 500 million to build a new regional campus in Florida We are in a position to benefit from tax cuts. Engaged in digital technology, finance and product development.

The company could claim more than $ 570 million in tax deductions for the project over a 20-year period, according to a document obtained Wednesday through a request for public records by Orlando Sentinel from the State Department. Of financial opportunity.

The document states that Disney’s capital investment in this project could be as high as $ 864 million. The company already has a theme park resort in central Florida, the size of San Francisco.

Disney is eligible for money under the state’s capital investment tax credit program approved in February 2020, Florida Governor Ron DeSantis spokesman Christina Pushau told the newspaper.

Report: Disney May Get $ 570 Million With Tax Deductions On New Campus | Entertainment

Source link Report: Disney May Get $ 570 Million With Tax Deductions On New Campus | Entertainment

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