Digital production studio could bring 500 jobs, $50 million capital investment to Port St. Lucie
July 30th, 2009 by Post StaffBy ALLISON ROSS
Palm Beach Post Staff Writer
PORT ST. LUCIE — A creative technology investment company plans to build a digital production studio in Port St. Lucie that could bring at least 500 jobs and a $50 million capital investment to a county struggling with a 14.1 percent jobless rate.
Hobe Sound-based Wyndcrest Holdings LLC — which focuses on
entertainment, telecommunications and Internet technology — announced Thursday that it has already begun recruiting a senior
management team for the planned 150,000-square-foot facility. It will include artist studios, office suites, screening theaters, software design studios and community access areas.
The project could provide a needed kick to St. Lucie County, who had the second-highest unemployment rate of Florida’s 67 counties in June.
“We can always use high-skill, high wage jobs especially right now with the number of people we have unemployed right now,” said Gwenda Thompson, president and chief executive officer of the Workforce Development Board of the Treasure Coast.
“The whole growth of the digital content creation space is just beginning,” said John Textor, Wyndcrest’s founder and managing principal, when asked why Wyndcrest would open a new studio now.
“Obviously, we all feel the economy, but … this is not a time for our industry to pull back.”
Indeed, Textor noted that the film industry historically does well in recessions because people are looking for good cheap entertainment. He also noted that the video game industry is growing at greater than 20 percent a year.
This will not be the first time the company has been involved with a production studio: Wyndcrest is a majority shareholder of California-based Digital Domain, an Academy Award-winning digital production studio that has created visual effects for movies like The Curious Case of Benjamin Button, Transformers, Apollo 13 and Titanic.
“This new studio is a Wyndcrest project, not ours, but obviously we’re pleased about it,” said Julie Miller, communications director for Digital Domain. “If there’s opportunities for us down the road to be involved in that, that would of course be great.”
While Wyndcrest noted that the new studio will focus on the creation of original content and digital imagery for animation films, live-action films and video games, Wyndcrest did not offer many other details on the new studio. The company is still negotiating incentives with county and state officials.
The company also negotiated with Sarasota, which has Ringling College of Art and Design, known for its animation and special effects education.
Textor declined to discuss the ongoing talks, but said Wyndcrest has been speaking with the state’s Office of Tourism, Trade and Economic Development. Wyndcrest has also been in discussions for about nine months with the Economic Development Council of St. Lucie County.
“We have a lot ahead of us to get the deal done,” Textor said. “It’s quite an effort to build a project like this.”
Textor — who lives in Jupiter Island — said he wanted to bring the project to Florida because of the amount of digital content creation talent coming out of Florida’s schools, both public and private. He added that he hopes to soon announce tie-ins between the new Port St. Lucie studio and educational institutions in Florida.
“Our youth are a natural resource we can use besides the weather here in Florida,” Textor said. He said that, right now, students who major in digital design or animation in Florida often have to move to different states to pursue their careers. He wants to help change that.
“
We’re at the advent of the industry,” Textor said. “Kids want to grow up to build the video games they play.”
“It would be great if those young adults would have the opportunity to stay right here on the Treasure Coast,” Workforce’s Thompson said, noting that graphic design and digital arts majors from Indian River State College usually head for Atlanta, Jacksonville, Chicago and other metropolitan areas after they graduate.
“In this economic climate, to know that there are still companies looking at St. Lucie County is encouraging,” said Paula Lewis, chairwoman of the St. Lucie County Board of Commissioners. “We’ve talked for years about diversifying our tax base and I think that’s a really good thing to pursue.”
Lewis said she didn’t know specific details about the deal because the Economic Development Council of St. Lucie County has been the “driving force” behind it. But she noted that with the county’s unemployment hovering around 14 percent, “anybody put back to work is someone put back in the economy.”
Staff writers Cara Fitzpatrick and Daphne Duret contributed to this story.
Tags: animation, development, digital, digital domain, economic, holdings, production, video games, wyndcrest
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July 30th, 2009 at 9:41 pm
The orginal article that was posted in the TCPalm stated 1000 jobs, now it has been decreased to 500. Do RESEARCH on this company, Digital Domain. It is in PSL’s BEST INTEREST to stay clear of this outfit!
Posted by Prolaw on July 30, 2009 at 4:12 p.m. (Suggest removal)
Pelton and the local rag really need to do a little research on this so called company and their hopes to relocate here. This from a lawfirm regarding a recent lawsuit against Digital.
This all smells as “give us what we want to relocate and we will try to turn a profit!”
Securities fraud? HMMM. I think we have enough crooks here already. Hasn’t turned a profit since 1993. Questions whether the company can survive this hit! RED FLAGS PEOPLE! RED FLAGS!
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Variety.com Reports that Digital Domain Loses Wrongful Termination Lawsuit to Ex-President Christian Bradley “Brad” Call
Filed under: Employment & Labor Law — admin @ 1:54 pm July 3rd, 2009
The following article was posted on Variety.com
http://www.amandahill.com/blog/2009/07/03/varietycom-reports-that-digital-domain-loses-wrongful-termination-lawsuit-to-ex-president-christian-bradley-brad-call/
Digital Domain loses termination suit
“Button” vfx company to pay $2 million in damages
By David s. Cohen
In a verdict handed down Thursday evening in Malibu, Christian Bradley “Brad” Call has won his wrongful termination suit against visual effects shop Digital Domain and has been awarded approximately $2 million in damages.
The size of the award raises questions about whether Digital Domain can survive, though in a statement, DD’s VP and general counsel Joseph Gabriel, said the ruling is “absolutely not going to put the company out of business.”
Gabriel further noted that the company is “evaluating its appellate options.”
The jury was unanimous on most findings.
Call had accused executives of DD’s current owner, Wyndcrest Holdings, of firing him after he objected to turning over inflated income projections to Falcon Partners, which was due to invest in the company. Falcon went on to make the loan to DD anyway.
Testimony at the trial included accusations of securities fraud extending to both Wyndcrest and Falcon.
Wyndcrest is a private investment firm whose investors include helmer Michael Bay and former pro quarterback Dan Marino .
Call also prevailed in DD’s countersuit, which accused him of breach of fiduciary duty. The jury did find that Call broke his confidentiality agreement with DD in emailing himself the documents that later became evidence in the case.
Digital Domain was the lead shop on this year’s vfx Oscar winner, “The Curious Case of Benjamin Button” and contributed work to current smash “Transformers: Revenge of the Fallen.”
It’s finances have been under a cloud since SEC filings revealed the company has never turned an annual profit since its founding in 1993 by Scott Ross , James Cameron and the late Stan Winston.
http://www.amandahill.com/blog/2009/07/03/varietycom-reports-that-digital-domain-loses-wrongful-termination-lawsuit-to-ex-president-christian-bradley-brad-call/
http://www.tcpalm.com/news/2009/jul/30/port-st-lucie-lead-land-digital-production-studio-/?feedback=1#comments
July 31st, 2009 at 1:54 pm
This would be awesome! I cannot wait to share this article with my 14 yr old whose dream is to design and create video games! AND…..we just moved to PSL 3 years ago! Just think of how the children in PSL will benefit from having this company so close by. I am more excited about this venture than the Biotechs!
August 1st, 2009 at 11:31 am
“The whole growth of the digital content creation space is just beginning,” said John Textor, Wyndcrest’s founder and managing principal, when asked why Wyndcrest would open a new studio now.
“Obviously, we all feel the economy, but … this is not a time for our industry to pull back.”
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ANSWER THE QUESTION!!!!!!!!!!!!!!!!!!!!!!!!!!!
August 21st, 2009 at 4:33 pm
I am one of those fish who leave the state seeking these jobs. I just got back from Atlanta 2 months ago after 7 years. I missed my family and friends! Aside from my personal and career goals involved in the post-production industry, something like this would be amazing for PSL…let alone Florida. I would feel honored to hold one of these 500 positions.
My freelance/solo production efforts (www.FunkinProductions.com) only go so far. Please make this dream a reality!!!!!
Mr. Textor, you are the man, Sir!
September 16th, 2009 at 2:45 pm
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November 10th, 2009 at 3:21 pm
I’m planning on moving out to LA to pursue a career in cinematography, but have been trying to make the right moves. DH is supportive but fearful of us leaving our jobs to move to Cali in these hard economic times. Learning about Wyndcrest and Digital Domain opening a studio here in PSL - it’s the most awesome news I’ve heard in YEARS and really puts my dreams at grasp! I would love to be able to hold one of these 500 positions and gain the experience from such a well established company. I’m eager to hear about the ties to Florida schools as well as I was looking at transferring to the Academy of Art in San Fran…perhaps I won’t have to go so far afterall. If anyone has any info on when job openings will be posted, please advise. Much thanks to Mr. Textor, Wyndcrest and Digital Domain.
December 5th, 2009 at 11:01 am
I am interested in a job in animation. I would have a BA degree in Visual Communication with foccus on animation from American Intercontinental University (180 hours). I plan to move back to Flordia in 2010. Presently, I am living in Atlanta, GA.
I think it is an excellent opportunity for the Florida residents and the company can improve the economic problems in the areas.
Byron Hill
March 4th, 2010 at 6:50 am
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