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Analysts Say Hollywood Will Boost LA’s Economy

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(David McNew/Getty Images)

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LOS ANGELES (AP) — Experts say Hollywood motion picture and television production should help the Los Angeles County economy by adding jobs this year.

Los Angeles County Economic Development Corp. chief economist Nancy Sidhu says the Los Angeles economy is poised for growth. The county is expected to add 24,100 total jobs this year.

Film and TV production added 16,500 jobs last year, becoming one of the fastest-growing employment sectors, and Sidhu says it will continue to add jobs this year.

The group’s forecast released Wednesday also shows international trade and tourism will add jobs.

The Los Angeles Times says residential building will remain slow because there’s still an oversupply of apartments and condos. The forecast predicts that the county will issue 8,490 residential building permits this year compared to 26,300 permits in 2006.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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  • http://temporary2.com/archives/1969/12/31/analysts-say-hollywood-will-boost-las-economy-%c2%ab-cbs-los-angeles/ Temporary Test Blog » Blog Archive » Analysts Say Hollywood Will Boost LA's Economy « CBS Los Angeles

    [...] Original post by cbsjenn [...]

  • CALIFORNIAMARTY

    Hollywood would add more than two hundred thousand jobs and billions in revenue if California increased their incentives to match those of 44 other states that lure our productions to them. Battlefield Los Angeles was filmed in Louisiana and their crews, vendors, hotels, restaurants and studios were raking in the dough not ours. Runaway film production has stripped California of two-thirds of its film productions and must be stopped.
    This industry belonged to us before Canada decided to take as much as they could with tax incentives backed by the Canadian Government. Soon the states caught on.

    Good news about the jobs, but we can bring them all back with level-the-playing-field legislation. The producers want to go home to their wives and kids at night and they live here not in Toronto, or Shreveport, Louisiana.

  • http://www.bollywoodhotnews.com/?p=12415 Analysts Say Hollywood Will Boost LA's Economy « CBS Los Angeles | Bollywood Hot News

    [...] Continue reading here: Analysts Say Hollywood Will Boost LA's Economy « CBS Los Angeles [...]

  • PS

    The problem with all the noise about Hollywood adding thousands of jobs is that each of those jobs might be short-lived. Countless Hollywood people work by the project & in between they collect unemployment. The job may be 1 day, 1 week, 1 month…. & then they are on unemployment again, looking for work again, & the next time they are hired by a different employer, that’s counted as a new job.

    I”m a member of one of the crafts unions. Once, in 1 week I worked for 4 different employers. Each time that was counted as a new job created. Yeah… each one lasted about 15 hours.

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  • phil 399

    So what”s your problem? When you came into this industry you knew this was the system. If your looking for full time employment get a job in another industry. As far as statistics go the downside is recorded as well, consequently the numbers equal out.

  • phil 399

    How true, but one other aspect is that when these productions leave town and hire locally, they do not have to pay benefits to to these people, health and welfare adds up to millions of dollars saved. In addition our pension and health care suffer because of lack of contribution.

  • kanni

    I call Central Casting every day and got a job on CBS Criminal Minds as a Montana state Trooper

  • Cheese_Wonton

    Nonsense. TV and motion picture production are less than 5% of the Southern California economy. They will never “add more than 200,000 jobs”, the whole industry in California and out doesn’t employ that many people grand total.
    The motion picture industry is iconic, certainly, but their contribution to the Southern California economy is minor. The power behind the So Cal economy lies in health care, education, manufacturing, retail sales and what is called Transportation, Warhousing and Utilities. Those are the industries where the jobs are and where the big employment numbers are.

  • http://likemovies.net/2011/02/why-james-franco-wont-be-singing-cher-at-the-academy-awards/ LikeMovies » Blog Archive » Why James Franco Won’t Be Singing Cher at the Academy Awards

    [...] by adding jobs this year. Read more on CBS 2 Los Angeles Tags: Academy, Awards, Cher, Franco, james, singing, wont No Comments [...]

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  • Dayana

    Way to use the intenret to help people solve problems!

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