Sboll is Your Go-to Source for the Latest Finance News, Covering Markets, Banking, Investments, Economy and Stocks.
⎯ 《 Sboll • Com 》

Disney CEO on Florida Fight: ‘Does the State Want Us to Invest?’

2023-05-11 05:54
Walt Disney Co. Chief Executive Officer Bob Iger once again had sharp words for Florida Governor Ron DeSantis
Disney CEO on Florida Fight: ‘Does the State Want Us to Invest?’

Walt Disney Co. Chief Executive Officer Bob Iger once again had sharp words for Florida Governor Ron DeSantis in the ongoing feud over the company’s operations in the state.

On a conference call with investors Wednesday, Iger said Florida has over 2,000 municipal districts similar to the one for Disney’s theme parks in Orlando. He said the decision by DeSantis and the legislature to take control of the district was “retaliatory.” Disney plans $17 billion in projects in the state over 10 years.

“Does the state want us to invest more, employ more people and pay more taxes or not?” Iger asked on the call.

The governor’s office declined to comment.

Disney, which operates four theme parks and thousands of hotel rooms in the state, sued Republican DeSantis last month over changes to the Reedy Creek Improvement District.

Read More: Disney CEO Iger Blasts DeSantis’ Policies as ‘Anti-Business’

The state dissolved the old district and replaced it with one controlled by the governor, a possible presidential candidate, after Disney spoke out last year against a Florida law that limited discussion of sexual identity in schools.

The district, which has existed since the 1960s, provides municipal services such as power, road maintenance and fire protection for Disney’s resort area.

--With assistance from Nic Querolo.