Watch CBS News

Analysts Say Hollywood Will Boost LA's Economy

LOS ANGELES (AP) — Experts say Hollywood motion picture and television production should help the Los Angeles County economy by adding jobs this year.

Los Angeles County Economic Development Corp. chief economist Nancy Sidhu says the Los Angeles economy is poised for growth. The county is expected to add 24,100 total jobs this year.

Film and TV production added 16,500 jobs last year, becoming one of the fastest-growing employment sectors, and Sidhu says it will continue to add jobs this year.

The group's forecast released Wednesday also shows international trade and tourism will add jobs.

The Los Angeles Times says residential building will remain slow because there's still an oversupply of apartments and condos. The forecast predicts that the county will issue 8,490 residential building permits this year compared to 26,300 permits in 2006.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.