A report posted on the Louisiana Film and Television Commission’s website:
Economics Research Associates Report: Trends in Film, Music and Digital Media
Key Economic Impact Findings for Louisiana Film Industry
In 2006, Louisiana Economic Development retained Economics Research Associates (ERA) to evaluate:
1. Current film and music industry trends
2. Estimated impacts of the states film incentive program
3. Prospects for moving the states film and music industry initiatives to the next level of economic development
ERAs report revealed the following key findings about the states film industry:
Employment in Louisiana’s film industry has grown 23 percent per year since 2001 the highest in the nation.
The Louisiana industry supported 5,437 jobs in 2003. By 2005, an additional 13,445 jobs were created.
Wages have increased more than 31 percent each year.
In the United States, Louisiana ranks third in the number of films produced. This is the result of the state’s incentives programs geared to the industry.
Louisiana’s film industry total output multiplier is 1.85, which means every $1 invested generates $1.85 for the economy. This puts the film industry in the top quarter of all industries and does not reflect indirect or residual benefits like hotels, food and retail purchases.
In 2003, film spending added $7.4 million to the state economy in the form of wages, profits, sales taxes, etc. In 2005, this rose to nearly $344 million.
In the near future, Louisiana should meet the infrastructure needs demanded by the increased growth.
CenLamar 