Topline
Disney CEO Bob Iger Wednesday accused the Florida government of retaliating against the company for its stance on the state’s so-called “don’t say gay” legislation and signaled that Disney may reconsider its planned investments in the state, signaling a further escalation in the ongoing battle between the entertainment giant and the state’s Republican leadership.
Disney CEO Robert Iger attends the 95th Annual Academy Awards at the Dolby Theatre in Hollywood, … [+]
Key Facts
Addressing Disney’s investors during its second-quarter earnings call, Iger said the suit the company filed last month against Florida Gov. Ron DeSantis and his handpicked special district board made the company’s “position and the facts very clear.”
Iger added the company believed they were being targeted for “merely exercising our right to free speech.”
The Disney CEO also pushed back against allegations that Disney had received special benefits from the state by pointing out that there were “about 2,000” special districts across Florida, “established to foster investor development.”
Saying that Disney was only asking for a level playing field, Iger pointed out that other special districts like the Daytona Speedway and The Villages retirement community haven’t received the same kind of scrutiny from DeSantis’ government.
Iger pointed out that Disney has plans to invest $17 billion over the next 10 years in Florida and said this is something the state “should want us to do.”
The Disney CEO ended his remarks on the issue by asking: “Does the state want us to invest more, employ more people and pay more taxes or not?”
Crucial Quote
“So while it is easy to say that the Reedy Creek special district that was established for us over 50 years ago benefited us, it is misleading to not also consider how much Disney benefited the state of Florida,” Iger said during the earnings call adding that the company employs around 75,000 people in the state and “attracts tens of millions of people” to visit Florida.
Big Number
$1.1 billion. That is the amount in taxes that Disney paid in local and state taxes in Florida last year, Iger said. According to the Disney chief, this makes the company the “largest taxpayer in Central Florida.”
Source: https://www.forbes.com/sites/siladityaray/2023/05/11/does-the-state-want-us-to-invest-more-disney-ceo-takes-on-florida-gov-desantis/