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2008 creative econ report


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FOR IMMEDIATE RELEASE

WILL ARTISTS AND DESIGNERS SAVE THE ECONOMY
 OF THE LOS ANGELES REGION?
Los Angeles, CA. October 1, 2008—Artists, designers and “creative types” drive the diverse economy of the Los Angeles region, according to a new report from the Los Angeles County Economic Development Corporation (LAEDC).  Data shows that “creativity” is the #2 business sector in Los Angeles and Orange County, generating nearly 1 million jobs and over $100 billion in sales/receipts from the arts, design and entertainment industries combined.  (Tourism and Hospitality is the # 1 business sector in the Los Angeles region.)

These findings and more were revealed today at a presentation of the 2008 Report on the Creative Economy of the Los Angeles Region, hosted by Otis College of Art and Design which commissioned the report to put real numbers to the business of creativity.  “Our goal is to spotlight this under-recognized driver of the regional economy,” said Samuel Hoi, President of Otis College.  “Our hope is that business, cultural, civic, legislative, philanthropic, educational, and community leader will join to foster creativity as a sustaining force in our region.”

Other findings in the report:
•    more than $3.8 billion in state tax revenues are generated from this business sector in Los Angeles and Orange County
•    jobs in architecture, landscape design and interior design are up over 30%; jobs in furniture and home furnishings are down by more than 20%
•    the entertainment industry does not dominate the creativity sector of Los Angeles, but represents 38% of all creative jobs in the county

Read the full report

The 2008 Creative Economy report was presented by Dr. Nancy D. Sidhu, Vice President and Senior Economist of The Kyser Center for Economic Research at the LAEDC.  “The Los Angeles region is a country-sized nation,” said Sidhu, “and 1 out of 10 jobs in the region is, directly or indirectly, a creative industries job.”
 
A lively panel discussion on L.A.’s creative future, moderated by Val Zavala of KCET, followed the report.  Panelists were Robert Eckert, Chairman and CEO of Mattel. Inc, Michael Alexander, Executive Director, Grand Performances and former Chairman of the California Arts Council, Kelly McDowell, Mayor of El Segundo, Roger Wyett, President and CEO of Hurley International, and Laura Zucker, Executive Director of Los Angeles County Arts Commission.

“The Los Angeles region is fortunate in that we don’t need to will creativity into being,” said Hoi in closing.  “It is already a resource in our midst.  But it cannot be taken for granted.  Its persistence demands careful investment.  To be competitive in the world and in this age of
ideas and innovation, we must embrace creativity in our schools and in our workplaces.”


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