July 13, 2006

Movie Work in LA Is Up. I Wonder Why?

Filed under: Business Moves,Economy,Taxes & Government — Tom @ 1:24 pm

A quite unlikely group owes George Bush a thank-you card:

Study: Show Biz Jobs Up in L.A. into 2008
July 12, 2006

Runaway production remains an economic drag on Los Angeles, but the entertainment industry will add 3,000 jobs in the area, and work here rose for the second consecutive year in 2005, according to a study set for release today.

In Los Angeles, the unincorporated areas of Los Angeles County and three smaller, nearby cities, “production days” on feature films rose from 8,707 in 2004 to 9,518 last year, according to a midyear update from the Los Angeles County Economic Development Corp.

Until 2004, location production days had fallen for seven years in a row, a function of runaway production, LAEDC chief economist Jack Kyser said. Even after two years of rebound, feature film production days are well off the 13,980 in the peak year of 1996.

….. Nevertheless, the entertainment industry, comprising TV, radio and cable broadcasting and motion pictures, appears poised to add 3,000 jobs this year, 2,400 in 2007 and 2,600 in 2008. In 2005, the industry lost 1,500 jobs.

The turnaround that began in 2005 and that is expected to continue wouldn’t possibly have anything to do with the entertainment business’s favorite president’s tax cuts, especially those on capital gains, would it?

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