From the Daily News:
Entertainment industry insiders gathered in Hollywood Friday to hash out their most pressing issues and possible opportunities in the first State of the Entertainment Industry Conference…
“You’re looking at 247,000 people who are working in this industry, one way or another, whether they’re earning a paycheck or self-employed,” Robert Kleinhenz, chief economist at the Los Angeles County Economic Development Corp., said while presenting his organization’s “The Entertainment Industry and the Los Angeles County Economy” report.
The study found nearly $19 billion worth of payroll locally distributed over all facets of the entertainment business in 2011…
The report also notes that showbiz-associated indirect job creation (caterers, florists, for example) yields close to 586,000 jobs countywide. Entertainment directly generates $47 billion in annual output, or some 8.4 percent of L.A. County’s $558 billion in 2011, and accounts for $6 billion in state and local taxes each year…
Across town at City Hall on Friday, the City Council called for measures that would refund 75 percent of the sales tax related to productions, and study how to develop a new tax rate for radio and television broadcasters.
“These industries can generate their signals from anywhere,” Councilman Eric Garcetti said. “We want to keep them in Los Angeles.”
Under the proposal, the city will study changing the gross receipts tax and offer a minimum tax rate for the industry, similar to what is done with film companies.
Garcetti said he also wants to study possible incentives for the video game industry.
“Right now, the video game industry is bigger than Hollywood,” Garcetti said. “I was talking with one video game producer and he said he is moving to Montreal because of the incentives they are offering.”