So the TL:DR version. DeSantis wanting to punish Disney for not bending the knee to his shitty anti-LGBTQ laws will hurt his own state.
Getting rid of Disney World’s government isn’t likely going to hurt the Mouse, Deutsche Bank analysts wrote in a new research note published Tuesday.
“We don’t see a material negative outcome from this situation for Disney; and financially speaking, we think it could end up being a positive development,” analysts Bryan Kraft, Benjamin Soff and Connor Murphy wrote.
Last week, the Legislature voted to eliminate the special tax district which allows Disney’s government to provide its own roads, utilities, fire services and other infrastructure needs at the massive theme parks and resorts. Reedy Creek is set to be eliminated by June 2023.
State Republicans wanted to punish Disney after company CEO Bob Chapek voiced opposition to Florida’s Parental Rights in Education measure, dubbed the “Don’t Say Gay” law by critics. Disney also announced the company was pausing campaign donations in Florida. Chapek was already under pressure from the Left and LGBTQ+ activists for not speaking out against the controversial bill sooner.
Now, Orange County property owners could face tax increases of 15% to 20% on average, and the county would need to absorb Reedy Creek’s financial obligations, including a $1 billion bond, the note said.