Hollywood - the ticket to improving L.A.'s economy.

Few destinations in the world are fortunate to possess as powerful a lure for visitors as the Hollywood region. With its connotation of celebrities and movie glamour, Hollywood has performed a significant role in propelling tourism to the second largest industry in Los Angeles County, generating $8.25 billion in annual visitor expenditures.

The movie capital mystique has a strong hold on our 25 million annual visitors who cite Hollywood as the area's fourth most popular attraction. Each year, millions of international guests are drawn to Mann's Chinese Theater or the Hollywood Walk of Fame while staying in local hotels and dining in area restaurants.

It is significant to note that along with their autograph books, visitors bring their wallets. And by doing so, they generate jobs. The Los Angeles tourism industry provides $4.25 billion in job related income and supports more than 437,000 positions. Cities benefit as well, with visitors contributing more than $343 million in annual tax revenue.

To put it all in perspective, the Los Angeles tourism industry is a mammoth economic enterprise larger than Apple Computer and the Walt Disney Company.

When completed in 1995, the Hollywood Entertainment Museum will play a meaningful role in strengthening our desirability as a vacation destination. By providing an historical and interactive display detailing the milestones in entertainment, the Museum will offer visitors a definitive resource in which to learn about this significant industry.

As an important cornerstone of the revitalization of Hollywood, the Museum plays and integral role in the future growth of the Los Angeles visitor industry. As outlined in the Bureau's current strategic plan, the continued increase in visitor spending depends upon tangibly capturing the imagination of travelers seeking the glamour of a Southern California visit.

To this end as well, the securing of a greater share of the national meetings market hinges on the image of Los Angeles. The expanded Los Angeles Convention Center, which will serve as the city's striking new architectural landmark, will enable Los Angeles to compete in this lucrative market and will provide added incentive to bring individual here who would not otherwise visit. When it opens in November, the Center will make Los Angeles the home of the largest convention facility on the West Coast and one of the ten largest centers in the nation. Certainly many of these convention delegates will want to explore some of Hollywood and familiarize themselves with the city's leading, and most celebrated, industry.

We look forward to the addition of the Hollywood Entertainment Museum and will be proud to add it to the local roster of world-class attractions that give Los Angeles a respected reputation around the globe as one of the world's most exciting destinations.

HOLLYWOOD ENTERTAINMENT MUSEUM'S ECONOMIC IMPACT WILL BE
DYNAMIC!

CONSTRUCTION PHASE

TOTAL JOBS DURING CONSTRUCTION                      935
WAGES                                       $17 MILLION
LOCAL EMPLOYEE SPENDING                     $14 MILLION
MATERIAL AND SUPPLIES EXPENDITURE           $23 MILLION
TAX REVENUE                                $1.1 MILLION

AFTER OPENING (YEAR ONE)

TOTAL JOBS                                         1058
WAGES                                       $19 MILLION
VISITOR SPENDING                            $34 MILLION

Hollywood Entertainment Museum is expected to infuser $2.50
into the local economy for each $1 of visitor spending. This
will equate to $85 million.