New Report on Los Angeles' Creative Economy Released
The Los Angeles County Economic Development Corp. released its second annual report on the creative economy of the Los Angeles region. The report, commissioned by Otis College of Art & Design, updates the LAEDC’s 2007 report, which was the first of its kind to focus on the region’s arts, design and entertainment industries. The report was introduced to educators and members of the arts community, in conjunction with the Arts for LA 2008 Annual Leadership Convergence, by Dr. Nancy D. Sidhu, the LAEDC’s vice president and senior economist, on Oct. 1 at the Skirball Cultural Center in Los Angeles.
According to the report, the arts community represents one of the biggest business sectors in the region, creating nearly a million jobs in Los Angeles County and Orange County and accounting for nearly $100 billion in sales and receipts in Los Angeles County.
Fashion—which includes apparel and textile manufacturers, wholesale apparel and jewelry marts, and cosmetics, footwear and handbag producers—is among the big players in the report. In 2007, the fashion industry employed 102,300 people and raked in $28 billion in direct sales. The total economic impact of the fashion industry was large, accounting for the equivalent of 250,000 full-time jobs and a total output of $53.2 billion.
Apparel manufacturers, which have been shedding jobs as more brands move production off-shore, seem to be “leveling off” in 2008, the report asserted. Still, according to the report, in Los Angeles County the number of jobs in the fashion industry has dropped 16 percent since 2002.
The full report—which also studies communication arts, architecture and interior design, digital media, entertainment, fine arts and performing arts, and furniture—is available at www.otis.edu/econreport. —Erin Barajas
