Otis Report on Creative Economy 2009

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UNLEASHING L.A.’S CREATIVE POTENTIAL

On Nov. 10, Otis College of Art and Design presented the 2009 Otis Report on the Creative Economy of the Los Angeles Region, including an economic forecast of the creative industries through the year 2013. With an introduction by Samuel Hoi, president of Otis College of Art and Design, the new data was presented by Dr. Nancy D. Sidhu, chief economist of The Kyser Center for Economic Research at the Los Angeles Economic Development Corp. This special report was followed by a discussion with some of LA’s top business, art and design leaders, including Sir Ken Robinson, Andy Mooney, and Laura Zucker. It was moderated by KCRW's Frances Anderton.

The report found that as the U.S. economy continues to transition from a manufacturing-based to a service-based economy, the Los Angeles region will see an uptick in employment for artists and designers. Data show that the “creative economy” is one of the largest business sectors in Los Angeles and Orange Counties, generating nearly 1 million in direct and indirect jobs and almost $140 billion in sales/receipts from the arts, design and entertainment industries combined. Over $5.1 billion in state and local tax revenues are generated by art and design-oriented businesses.

As Sir Ken Robinson pointed out, L.A. has the conditions to support an interactive, dymanic economy because of the richness and diversity of its global cultures. The seeds of a new economy based on abundant creativity will thrive in Southern California.

PRESS CONTACT: Sheri Mobley 323 668-0874; smobley@mobleymarketing.com

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