The 2012 Otis Report on the Creative Economy of the Los Angeles Region, released last week by Otis College of Art and Design at Google’s YouTube Space LA, once again underscored the impact of creative industries on the local economy. According to the Los Angeles County Economic Development Corporation (LAEDC), from whom Otis commissioned the report, the creative economy is the fourth largest industry cluster out of 66 in Los Angeles County. Driven by arts, design, and entertainment, the creative economy comprises 664,000 jobs and contributes more than $3.3 billion to state and local tax revenues. Projecting a 4.1% increase in creative jobs by 2016, the report emphasizes the need for civic engagement in support of the creative economy.
Chief Economist of the LAEDC Robert Kleinhenz presented the findings of the Otis report, and noted economist and author Ann Markusen presented national models and case studies of city strategies to stimulate and support the creative sector. Mark Lacter of "L.A. Biz Observed" led the guests in round-table discussions and brainstorming sessions focused on new directions and initiatives.
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