Los Angeles, CA (PRWEB)
May 18, 2017
The findings of the 2017 Otis Report on the Creative Economy were released today by Otis College of Art and Design at the Linwood Dunn Theater in Hollywood.
Bruce W. Ferguson, president of Otis College of Art and Design, welcomed the live and online audience, introducing Cheryl Boone Isaacs, president of the Academy of Motion Picture Arts and Sciences, who provided her thoughts on the creative economy and the entertainment industry. Isaacs’ remarks prefaced a panel discussion on the topic led by report economist Kimberly Ritter-Martinez with Academy members Victoria Alonso and Debra Martin Chase.
Since 2007, Otis College of Art and Design has commissioned the Los Angeles County Economic Development Corporation LAEDC to generate the Otis Report on the Creative Economy, first as a report on the Los Angeles Region and then joined by a statewide report, supported by the California Arts Council. The Otis Reports are invaluable tools to assess the tremendous impact and influence of the area’s creative sector on the economy.
Significant findings in the 2017 Otis Report on the Creative Economy of California include:
Creative economy output totaled $406.5 billion (direct, indirect, and induced).
- The creative economy generated 1.6 million jobs (direct, indirect, and induced), and those wage and salary workers earned $136 billion in total labor income.
- With 747,600 direct jobs, California surpasses New York State, which has 478,100 jobs, followed by Texas at 230,600 jobs.
- Property taxes, state and local personal income taxes, and sales taxes directly and indirectly generated by the creative industries totaled $16.7 billion across all of California.
- The largest direct…