Bob Iger warns Florida governor Ron DeSantis his feud with Disney may cost the s...
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Bob Iger warns Florida governor Ron DeSantis his feud with Disney may cost the state up to $17 billion
Disney shares, though,
In a thinly veiled threat, CEO Bob Iger suggested he may rethink plans to invest as much as $17 billion in Florida unless governor Ron DeSantis ceases his repeated political attacks on Disney.
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The two sides remain locked in a bitter legal battle over control of the land upon which Iger's crown jewel sits: Disney World in Orlando.
For the media exec, the stakes are high: 82% of his company's first fiscal half $6.3 billion operating profit came from its theme parks division. DeSantis meanwhile believes the ongoing feud is nothing less than his key to a shot at the White House.
"We have a huge opportunity to continue to invest in Florida. I noted that our plans were to invest 17 billion over the next 10 years, which is what the state should want us to do," Iger told investors on Wednesday. “Does the state want us to invest more, employ more people and pay more taxes, or not?”
Loosely translated, he is essentially daring DeSantis to sacrifice thousands of jobs and billions in future tax revenue for his state on the altar of his own personal political ambitions.
According to Iger, their dispute has nothing to do with the special treatment Disney World enjoys thanks to its location within Reedy Creek Improvement District.
After all, he claims, DeSantis is not publicly attacking the Daytona Speedway or any of the 2,000 other special districts created in the 1960s to incentivize business spending in Florida.
Instead, the Disney boss believes it has everything to do with the company’s demonstrative stance against his “Don’t Say Gay” bill, the governor’s signature legislation that served as a springboard to the national political stage.
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