Los Angeles has a good business environment.
Los Angeles has dozens of industries, with each having a unique logistics network, talented employees, investors, and suppliers. It won’t be wrong to say that Los Angeles is one of the most dynamic economies in the world. It is famous for its fast-growing and immense high-tech industry, great strength in aerospace, advanced transportation, large manufacturing base, international trade industry, and an increasing amount of venture capital investment in startups. All this success can be traced to its skilled workforce and visionaries who reinvent everything from transit to translational medicine. Still, companies like Disney are moving from California to Florida.
The Walt Disney Company Is Moving to Florida
The Walt Disney Company continued to be the most valuable locally-based company in Los Angeles, with more than half the market value of all 26 companies combined. It ranked 53rd in the Fortune 500 list and 7th in California. On Thursday, the world was in shock when the Walt Disney Co. announced its plans to move most Southern California-based jobs to a new regional facility in central Florida.
I want to share news about an exciting project that has been in various stages of planning since 2019.
Josh D’Amaro mentioned. Josh is the chairman of Disney Parks, Experiences and Products Division. He shared details in a letter to staff that was obtained by media outlets.
This new project will create a dynamic environment to support our expanding business – a brand-new regional campus which will be built in the vibrant Lake Nona community of Orlando, Florida. In addition to Florida’s business-friendly climate, this new regional campus gives us the opportunity to consolidate our teams and be more collaborative and impactful both from a creative and operational standpoint.
What Does It Mean for Los Angeles?
Disney is not the only company that has made such plans. Various other companies have already moved, which is a matter of great concern. Besides, companies like Blackstone, Elliot Management, and Goldman Sachs are considering it. If it so happens, Los Angeles and California will lose so many businesses. Thus, the economies may get impacted. Some people say that Los Angeles is not business-friendly, but I don’t think so. California is one of the largest economies in the world, and if the environment was not friendly, it could never gain so much success and fame. In the coming months, the business environment may change in Los Angeles and more and more people may start freelancing.
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