ICYMI: CFO Patronis on Fox News – “Florida is for Winners”
2/10/2021
“California exodus: Walt Disney Company in talks to move some jobs to Florida”
FOX & Friends FIRST, Fox News
February 10, 2021
To watch the full interview, click here
Fox News: The happiest place on earth could soon move its business out of the one of the most expensive places on earth. The Walt Disney Company in talks to move some jobs from California to the Sunshine State. Florida’s Chief Financial Officer Jimmy Patronis joins us to explain the potential money saving move for Mickey… Does any of this surprise you?
CFO Patronis: No. Look, Florida is for winners. Bob Chapek should do the exact same thing Tom Brady did and move to the State of Florida. We just put on a successful super bowl and he walked away an MVP. So, I’m looking at what has happened. Gavin Newsom is nonresponsive. Businesses are fleeing his state. Disney already has a proven track record here. We just like to allow them to grow and expand their business.
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Fox News: Ten major corporations have moved from California since 2019, when Gavin Newsom became Governor.
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Fox News: Let’s look at the numbers just in regard to California versus Florida. Obviously, the one that stands out is that top line, income tax. California a whopping 13.30 percent. Florida a whopping 0 percent. You alluded to this in your first answer, why haven’t Mickie and Minnie made this move sooner? Especially when they own a second home there in Orlando.
CFO Patronis: You know, again, I think those corporation’s kind of get comfortable in their business environment. It’s the hub of Hollywood. It’s the hub of a 51-acre studio facility in Burbank. You know, they’ve got an investment. They’ve got a relationship there. You know eventually when you’re not appreciated, hopefully enough is enough just like all those other corporations that you pointed out. Two of the things I’d like to note. Florida for three years in a row, first time ever in its history, all three major credit rating agencies have given us a AAA bond rating. That means we have a really good FICO score…
Fox News: …. You also have a lot of people going there to open restaurants and businesses that they haven’t been able to keep open where they’re from. Have you noticed that?
CFO Patronis: I have. In my previous life, 30 years before I was CFO, I was in the restaurant business and I know how hard it is to recruit good talent, good chefs, good management. It’s tough to come by. But, when you’ve got markets like New York, which is arguably one of the greatest restaurant cities in the whole world, when it’s shut down, that talent will leave and right now, Florida is having success in growing their successful restaurant industry in markets like Orlando and Miami, simply because their fleeing the markets that are closed for business.
Fox News: Let’s focus on Miami, you can’t get a more contrasting graphic then the one we’re going to show right now. Zero percent indoor dining in New York City since the 14th of December, 100% capacity in Miami since October 12th….. Why such a contrast?
CFO Patronis: Cuomo, God love him, what’s happened is really a comedy of errors and a train wreck now. It wasn’t long ago he totally shut down and now he’s offering to buy people dinner and he can’t seem to make up his mind what he wants to do. I know his own State of the Union address he was wanting to get the economy back rolling, but you know, it’s sad. He’s got people’s lives, people’s businesses, people’s life fortunes are gone because of his inability to lead.
CFO Patronis: No. Look, Florida is for winners. Bob Chapek should do the exact same thing Tom Brady did and move to the State of Florida. We just put on a successful super bowl and he walked away an MVP. So, I’m looking at what has happened. Gavin Newsom is nonresponsive. Businesses are fleeing his state. Disney already has a proven track record here. We just like to allow them to grow and expand their business.
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Fox News: Ten major corporations have moved from California since 2019, when Gavin Newsom became Governor.
---
Fox News: Let’s look at the numbers just in regard to California versus Florida. Obviously, the one that stands out is that top line, income tax. California a whopping 13.30 percent. Florida a whopping 0 percent. You alluded to this in your first answer, why haven’t Mickie and Minnie made this move sooner? Especially when they own a second home there in Orlando.
CFO Patronis: You know, again, I think those corporation’s kind of get comfortable in their business environment. It’s the hub of Hollywood. It’s the hub of a 51-acre studio facility in Burbank. You know, they’ve got an investment. They’ve got a relationship there. You know eventually when you’re not appreciated, hopefully enough is enough just like all those other corporations that you pointed out. Two of the things I’d like to note. Florida for three years in a row, first time ever in its history, all three major credit rating agencies have given us a AAA bond rating. That means we have a really good FICO score…
Fox News: …. You also have a lot of people going there to open restaurants and businesses that they haven’t been able to keep open where they’re from. Have you noticed that?
CFO Patronis: I have. In my previous life, 30 years before I was CFO, I was in the restaurant business and I know how hard it is to recruit good talent, good chefs, good management. It’s tough to come by. But, when you’ve got markets like New York, which is arguably one of the greatest restaurant cities in the whole world, when it’s shut down, that talent will leave and right now, Florida is having success in growing their successful restaurant industry in markets like Orlando and Miami, simply because their fleeing the markets that are closed for business.
Fox News: Let’s focus on Miami, you can’t get a more contrasting graphic then the one we’re going to show right now. Zero percent indoor dining in New York City since the 14th of December, 100% capacity in Miami since October 12th….. Why such a contrast?
CFO Patronis: Cuomo, God love him, what’s happened is really a comedy of errors and a train wreck now. It wasn’t long ago he totally shut down and now he’s offering to buy people dinner and he can’t seem to make up his mind what he wants to do. I know his own State of the Union address he was wanting to get the economy back rolling, but you know, it’s sad. He’s got people’s lives, people’s businesses, people’s life fortunes are gone because of his inability to lead.
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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and X (@FLDFS).