Digital Domain

Tax Incentives
2:00 pm
Tue January 29, 2013

State Asks For Half A Million To Reclaim $20 Million From Bankrupt Company

Scene: Digital Domain filed for bankruptcy in 2012 after investors and state and local governments sunk a total of $135 million in cash, land and tax credits into the digital animation studio.
Credit openDemocracy /Flickr

The Florida Department of Economic Opportunity is asking state lawmakers for half a million dollars in order to recoup a $20-million investment in the now-defunct digital animation studio, Digital Domain.

And according to local experts, Florida has a tough fight ahead to get its money back.

The state originally gave Digital Domain $20 million in incentives in order to lure the company--and jobs--to Port St. Lucie. Four months ago, the firm filed for bankruptcy, shut down and let go 300 Florida workers.

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