Each year, the film and television industry generates more than $40 billion in economic revenue in Southern California. We applaud the L.A. City Council for taking action on a series of film production incentives last week. However, they have yet to take action on the region’s largest, most impactful film retention project — NBC Universal’s Evolution Plan.
NBC Universal’s Evolution Plan will establish Los Angeles as the company’s global headquarters for film and television production. This is an economic development opportunity that other cities and states would welcome with wide-open arms. The project will create 31,000 immediate construction jobs and 12,000 new permanent jobs. It is also estimated to deliver $26 million in tax revenues each year. In this economy, these numbers alone should be enough to warrant the prompt attention of our elected officials.
The Evolution Plan will also help to address our region’s housing shortage and provide new open space for residents. The 391-acre live-work community boasts updated production and post-production facilities, modern office space, 2,900 residences and a Town Center featuring restaurants, shops and other neighborhood businesses. Developed by Thomas Properties, the project is also a pilot in the Leadership in Energy and Environmental Design for Neighborhood Development (LEED-ND) Program — using reclaimed water for irrigation and encouraging residents and employees to utilize shuttles, carpools, flex cars and bikes.
Despite community concerns about the project’s traffic impact, NBC Universal’s Evolution Plan includes significant efforts to mitigate congestion in the surrounding project areas. In fact, the company is investing $100 million in local and regional transit improvements, including plans to improve traffic flow along the five miles of the 101 Freeway near the project. This investment in local infrastructure will benefit the entire San Fernando Valley, and includes plans to upgrade the 134 and 101 Freeway interchange and the northbound on-ramp to the 101 Freeway at Highland Avenue. Signal upgrades, synchronization and street widening are also part of the studio’s plans to improve more than 100 intersections in the 50-square mile area surrounding Universal City.
Maintaining our city’s status as the entertainment capital of the world should be a priority when it comes to accelerating our economic recovery and ensuring the long-term prosperity of our region. The L.A. Area Chamber applauds NBC Universal for their efforts to advance this innovative project and we urge the L.A. City Council to promptly put its full support behind this vital job-creating project with lasting economic benefits for Los Angeles.