April 12, 2006

Hollywood Is On Economic A-List, New Study Says

Filed under: General — admin @ 1:25 am

A Recent study set for release Wednesday reveled that Hollywood is a leading source of jobs and revenue for Southern California and the major influence is on other top export industries.

The Los Angeles Economic Development Corp. reports that motion picture and television production accounts for an estimated 251,600 jobs in the greater Los Angeles area, making it the fifth-largest export industry in region.

Hollywood ranks just behind business and professional services and, in terms of jobs-per-industry, below technology, direct international trade and the largest export industry — tourism — with an estimated average annual employment of 512,600 jobs last year.

“What drives a lot of our tourists to California is the motion picture industry, which also has a huge impact on our apparel industry as well as furniture, manufacturing and even jewelry,” LAEDC chief economist Jack Kyser said. “(Hollywood) is a very critical industry for us.”

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