Thursday, January 20, 2005

Import Substitution

L.A. Location Shoots Jump Sharply, in large part due to the weaker dollar. Not only are small manufacturers getting more export orders, but hollywood is bringing its projects closer to home.

The Entertainment Industry Development Corp. issued permits for 52,707 location production days — one day representing a single day of work on a single project — for a 19% increase over 2003.

In recent years, Canada, Australia, Ireland and other countries have succeeded in luring movie work, capitalizing on the strength of the U.S. dollar, which made their currencies attractive, and on government-offered incentives.

Now, "with the decline in the value of the dollar it makes more sense to stay home," said Jack Kyser, chief economist with the Los Angeles County Economic Development Corp. "The cost savings is no longer there."
I wonder, though, if this is going to make it any easier to sell US entertainment overseas. In order to do that, not only must the industry be competitive (clearly it is), but there must also be good protection of intellectual property laws.


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