LAECD: Hollywood Economy Booming
The Los Angeles Economic Development Corporation says it expects steady, solid growth in entertainment industry jobs in the coming years, with Hollywood adding more than 15,000 jobs for a second year in a row.
The full report won’t be out until Friday, but a summary released today contains highlights of the good news.
The region’s famed motion picture/television production industry got off to a good start this yearas well. Domestic box office receipts were up strongly over the year, the state film production incentive plan was well received, and television networks, both broadcast and cable, produced a number of pilots and series. Jobs in the entertainment industry started to rebound at the end of 2009, and for 2010, an increase of 16,900 jobs is estimated in the motion picture and sound recording sector in Los Angeles County.
Of course that forecast doesn’t take into account the possibility of a strike shutting the industry down…
A report last week said that TV & Film production was up about 15% (ish) each over last year in Los Angeles and commercial production was up a whopping 34% over last year.
The tax incentives obviously kicked in.
and this is why the teamsters will get that extra little 1% instead of the AMPTP holding out and causing a strike
How much did the job market shrink during the WGA strike and consequent SAG non-strike strike? Year to year growth statistics like this are useless in a vaccuum. Are we seeing actual growth or a return to pre-strike employment?