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Economic Impact Analysis

IAE quantifies the relationship between a particular economic activity (investment, purchase, operations, expansion) and its interdependence with various sectors of the economy. Any economic activity impacts the number of jobs, earnings, and economic output in a region. A subset of this type of analysis is producing jobs reports for applicants to the EB-5 program, which stimulates the US economy through capital investment and job creation by foreign investors.

CA Film & TV Tax Credit Program 2.0

CA Film & TV Tax Credit Program 2.0

The California Film and Television Tax Credit 2.0, enacted in July 2015 and sunsetting June 2020, has contributed almost $21.9 billion in economic output over five years, supporting more than 110,000 total jobs (includes direct, indirect, and induced) in California. This increase in economic activity has returned to state and local governments an estimated $961.5 million in tax revenue.

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The circular economy and the built environment in the LA region: opportunities for Dutch companies

The Circular Economy and the Built Environment in the Los Angeles Region: Opportunities for Dutch Companies

This market study, commissioned by the Dutch Ministry of Foreign Affairs, maps the circular economy in California, specifically focusing on the Los Angeles region. The circular economy is the concept of systematically rebuilding the economy to encourage the continued use of resources and reduce negative impacts on the environment. Core elements of circularity are embedded within each key urban system including water, housing, infrastructure, waste management, and food. State and local public policy aimed at supporting the circular economy is reviewed in the report and the region’s circular industries are studied. Potential public and private partners for circular companies are identified, and past circular project successes and upcoming projects of interest are highlighted.

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Municipal budget exposure and COVID-19

Municipal budget exposure and COVID-19

LAEDC’s Institute for Applied Economics has published this analysis of general revenues of the 88 cities in Los Angeles County, assessing the level to which the cities are vulnerable to fiscal shocks as a result of the global COVID-19 pandemic.  Awareness of these challenges and prudent planning will be critical for all 88 Cities in Los Angeles County.

Collectively, these data serve to highlight which cities may be most in need of state and federal aid in order to maintain essential services, to avoid significant layoffs and furloughs of city workers, and to maintain maximal ability to provide relief efforts to households and businesses, especially those most in need during these uncertain times.

Cities wishing to engage with LAEDC economists to interpret the analysis can contact [email protected]

Media/reporters interested in covering this research, please contact [email protected]

Coronavirus impact on Southern California economy - Estimates of possible unemployment levels

Coronavirus impact on Southern California economy – Estimates of possible unemployment levels

On April 21, 2020, the LAEDC Institute for Applied Economics has published estimates for the Southern California economic conditions in May 2020, estimating a potential unemployment rate of 31.7% for Los Angeles MSA (LA and Orange Counties) and 31.4% for the broader Southern California region.  These estimates will change depending on many factors including policy interventions, and LAEDC will provide an update when further analysis is available.

This report provides county-level data for each of the 10-counties in Southern California, including San Diego, Imperial, Riverside, Orange, San Bernardino, Los Angeles, Ventura, Kern, Santa Barbara, San Luis Obispo.

Please visit LAEDC’s Community Connectory resource page on this website, with resources to assist your organization, as well as to request assistance from LAEDC’s team of business assistance professionals.

Media inquiries:  [email protected]

Media inquiries:  [email protected]

 

Media inquiries:  [email protected]

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LAEDC’s initial March 17, 2020 analysis of COVID’s impact on the LA County economy

LAEDC’s initial March 17, 2020 analysis of COVID’s impact on the LA County economy

This research brief was released by LAEDC’s Institute for Applied Economics the first week of California’s lockdown for the COVID-19 crisis of 2020. It provided stakeholders in the region and broader nation with analysis to prepare for the unprecedented and deeply damaging and rapid economic changes, job dislocations and business challenges that we would all face.  Originally circulated as a direct, urgent email campaign to all LAEDC’s network of contacts, we provide it here as an archive of our analysis at that time, which was one of the first comprehensive perspectives to help inform decision makers and households in the LA County region.  The brief includes:

  • COVID-19 affect our LA County economy, its industries, employers and workforce
  • Recommendations and analysis from LAEDC

For post-COVID analysis please see LAEDC’s Pathways to Economic Resilience report which looks at what actually happened in the economy during the first eight months of the pandemic and provides related policy recommendations for a more equitable recovery.

Oil and Gas Set-Back Economic Report

Oil and Gas Set-Back Economic Report

Oil & Gas setback policy is a complex issue with economic, environmental, public safety and property rights implications.

LAEDC is neither taking nor endorsing any particular position on this issue but rather offering this report on employment and economic impacts associated with potential changes in setback policy to better inform policymakers, solely on those economic and fiscal impacts.

Download the report here.

Economic Impact: Pacific Standard Time LA/LA Art Exhibit Series

Economic Impact: Pacific Standard Time LA/LA Art Exhibit Series

LAEDC’s Institute for Applied Economics has found that the Pacific Standard Time LA/LA exhibit series not only brought the rich art of Latin Americans to 2.8 million visitors at 70 cultural institutions around Southern California, it also created over 4,000 jobs, added $430 million in economic output the the regional economy, and supported labor income (wages) of nearly $188 million.  The PST LA/LA initiative took place from September 2017 to January 2018 and was supported by Bank of America and organized by the Getty in collaboration with other major local planning partners (including Chicano Studies Research Center at UCLA, LACMA, The Hammer, and MOCA).

LA/LA was an extraordinary series of experiences for local and international audiences, exploring visual arts, film, dance, music, performance art and more.  The initiative engaged hundreds of curators including scholars, artists and critics to highlight a tremendous wealth of all kinds of Latino and Latin American Art.  This was the second “coming” of Pacific Standard Time, and LA/LA exceeded the audience reach and economic impact of the original PST exhibit series substantially.

LAEDC’s role was to study the economic impact of the initiative to better understand how this collaboration improves opportunity and prosperity for the region.

Airbnb in Los Angeles: An Economic Impact Analysis

Airbnb in Los Angeles: An Economic Impact Analysis

This economic impact report, commissioned by Airbnb, concludes the Airbnb community in Los Angeles is generating hundreds of millions of dollars in economic activity. Specifically, this analysis found that Airbnb generates $900 million in economic activity, supports more than 7,400 jobs, and is expected to generate nearly $40 million in transient occupancy taxes on an annual basis in Los Angeles.

LACMA Transformation: Economic Impact Report from LAEDC

LACMA Transformation: Economic Impact Report from LAEDC

The Los Angeles County Museum of Art (LACMA) commissioned a Los Angeles County Economic Development Corporation (LAEDC) report to study the economic impact of LACMA’s Transformation project, 2007–2013. The report, which describes the economic impact of the construction of the project’s new galleries, public art installations, and other museum facilities, estimates that the Transformation generated economic output in Los Angeles County of more than $477 million, and supported 3,650 jobs with a labor income of $230.2 million. The economic activity is estimated to have generated almost $22 million in state and local taxes and $41.7 million in federal taxes. Further, the annual economic impact from increased attendance and visibility since completion of the project has added $44.1 million, yielding $88.3 million in economic output in Los Angeles County, and 700 additional jobs with an annual labor income of more than $35 million.

The report covers two phases of LACMA’s Transformation. Phase I, completed in 2008, included the Broad Contemporary Art Museum (BCAM), the BP Grand Entrance, and outdoor artworks including Chris Burden’s Urban Light and a palm garden by Robert Irwin. Phase II was completed between 2010 and 2012, and included the Lynda and Stewart Resnick Exhibition Pavilion, a new restaurant and bar, and the installation of Michael Heizer’s Levitated Mass. All together, the Transformation resulted in the doubling of LACMA’s campus, exhibition program, and attendance. A third phase, which will address the east side of the campus, is still in the planning stages.

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Los Angeles International Airport In 2011

Los Angeles International Airport In 2011

Los Angeles International Airport (LAX), located at the western edge of the city where the land meets the Pacific Ocean, is the sixth-busiest airport in the world, with 61 million passengers moving in and out of the
airport on 265,000 flights during the 2011 fiscal year. More than 1.9 million tons of air freight and mail was carried.

This activity and other on- and off-airport operations contributes to the local and regional economy by generating business revenues for firms providing passenger and aviation service and all supporting services, and by providing employment for thousands of workers. All this activity, in turn, generates tax revenue for state and local governments.

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