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Meeting your business information needs. Florida Film and Entertainment Industry Economic Impact...
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Transcript of Meeting your business information needs. Florida Film and Entertainment Industry Economic Impact...
Meeting your business information needs.
Florida Film and Entertainment IndustryEconomic Impact Analysis
Rick Harper, Ph.D.Director
UWF Haas Center
Film Florida/FFEAC Jacksonville, FL, December 9/10, 2008
Meeting your business information needs.
In 2007, film and entertainment-related spending accounted for:
•$17.9 billion in GSP (Florida’s Gross State Product)
•$8.5 billion in personal income
•$498 million in tax revenue to Florida
•207,800 jobs
GSP Impact increased by 13% from 2003 – 2007
For every $1 spent on a production within Florida, the state sees an additional 95 cents in impact.
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Over 68,000 jobs were created directly in arts, entertainment and recreation services.
28,620 jobs in professional and technical services
26,520 jobs in Information services
11,870 jobs in construction
10,810 jobs in retail trade
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Florida Cluster Name 2008 Jobs 2018 Jobs Growth Growth % Biomedical/Biotechnical (Life Sciences) 733,150 871,143 137,993 19% Defense & Security 298,008 351,204 53,196 18% Energy (Fossil & Renewable) 476,058 513,792 37,734 8% Information Technology & Telecommunications 368,386 390,472 22,086 6% Film and Entertainment 101,263 121,598 20,335 20% Transportation Equipment Manufacturing 44,514 46,778 2,264 5% Fabricated Metal Product Manufacturing 41,690 43,730 2,039 5% Machinery Manufacturing 26,822 27,061 239 1%
Computer & Electronic Product Manufacturing 49,182 45,477 -3,706 -8% Source: EMSI Complete Employment - Spring 2008 Release v. 2
Florida Industry Cluster Growth Comparison 2008 - 2018
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Conclusion:In 2002, Florida firms within the overall film and entertainment industry generated over $4.7 billion in revenue and paid over $1.2 billion in wages. By 2007, the major component industries of motion pictures, television, commercials and music videos, and digital media saw revenues exceeding $8.5 billion, or 5.2 percent of US industry wide revenues.
The estimated economic impact of the Florida Film and Entertainment Industry grew from nearly $27 billion in 2003 to $29.2 billion in 2007. The industry is currently responsible for over 207,000 jobs in the state and generates over $497.5 million in tax revenues annually. The Gross Regional Product (GRP) generated by the industry represents 2.4 percent of the total state GRP.
Meeting your business information needs.
Florida Film and Entertainment IndustryEconomic Impact Analysis
Questions?
Rick Harper, Ph.D.Director
UWF Haas Center