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Article: Focus shifts to entertainment as star of the Southland's economy. (Los Angeles, California)
- Article from:
- Los Angeles Business Journal
- Article date:
- June 28, 1993
- Author:
CopyrightCOPYRIGHT 1993 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The entertainment industry has long been the sizzle of Los Angeles' economy, not the staple. Now, with several major sectors of the region's economy in a tailspin, such as real estate and aerospace, and with tourism flat, entertainment is emerging as a business renaissance leader, according to economists.
Entertainment industry executives have long hyped its importance but have felt the industry was taken for granted, especially at City Hall. Location shoots and production have been slipping away from Los Angeles and moves by Mayor Tom Bradley to retain the business began only last summer.
But Mayor-elect Richard Riordan has named former Columbia Pictures ...