Report: Disney may get $570M in tax breaks for new campus

Entertainment

After a shutdown because of the coronavirus, fireworks fill the sky for the first time in 15 months at the Magic Kingdom at Walt Disney World Thursday, July 1, 2021, in Lake Buena Vista, Fla. (AP Photo/John Raoux)

ORLANDO, Fla. (AP) — Disney stands to benefit from more than a half billion dollars in tax breaks for building a new regional campus in central Florida.

The campus promises to employ at least 2,000 professional employees who will be relocating from Southern California to work in digital technology, finance and product development. Documents obtained by the Orlando Sentinel show the company could claim more than $570 million in tax breaks over 20 years for the project.

That would be among the largest in Florida history for a single corporation. The documents show Disney’s capital investment for the project could be as much as $864 million.

The new facility in Florida will reportedly be located near Orlando International Airport, about 20 miles east of the Walt Disney World resort.

A Disney spokesperson said earlier this month that moving the 2,000 workers to Florida is expected to take 18 months, and affected employees will be offered moving assistance.

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