Florida Taxpayers Out Millions as film Company Goes Bust
Florida taxpayers are on the hook for $135 million after a digital production company which received huge government subsidies filed for bankrupty and laid off hundreds of workers last week.
According to florida.mediatrackers.org:
Digital Domain Media Group Inc. closed its taxpayer-subsidized film studio and filed for bankruptcy protection on Tuesday, just a few short months after State Rep. Scott Plakon (r-Longwood) told skeptical Tea Party leaders that the Florida film industry provides a sterling example of why government officials should hand over taxpayer dollars to politically connected companies.
Between 2009 and 2012, Florida’s Republican-dominated legislature and various local governments handed over $135 million in taxpayer subsidies to Digital Domain. Those subsidies included prime real estate and a lavish headquarters building in addition to direct cash payments.