Economic Development Summit

The Hollywood Chamber of Commerce held our Annual Economic Development Summit on Thursday October 15th. The Summit, Hollywood NEXT: Adapting and Transforming Into A New Urban Environment, had an incredible turnout and engaged over 200 participants through multiple keynote speakers and breakout sessions. The Summit opened with networking and an opportunity to visit sponsor booths at our virtual Expo.

The Summit officially kicked-off with remarks from Stenn Parton, Chief Retail Officer of DJM, who unveiled new development plans to update and rename the Hollywood and Highland Center to Ovation Hollywood. Los Angeles City Councilmember O’Farrell and Mayor of Los Angeles Eric Garcetti opened the Summit with keynote remarks, highlighting the importance of the Hollywood economy to the overall economic health of the City. Hollywood Chamber of Commerce Chairman of the Board Dwayne Gathers, facilitated a Fireside Chat with John Kilroy, President, CEO, and Chairman of the Board of Kilroy Realty Corporation. Dwayne and John held a passionate conversation on the future of economic development within Hollywood and the City of Los Angeles as a whole, touching on the affects in which the homelessness crisis and other economic hardships have on Hollywood.

Participants had the opportunity to listen to panelists discuss multiple facets of Hollywood economic development through 6 breakout sessions. Panelists during the Reinventing Retail Session discussed the changes made to storefront commercial retail and bringing foot traffic to Hollywood amidst the pandemic. In the New Reality New Workforce panel discussion, presenters touched on the importance of intentional hiring, promoting current employees within the workforce, and prepping students for virtual learning and workforce development programs. During the Destination Tourism Comeback panel, a conversation around tourism projections in Hollywood, theme park re-openings, and the customer experience through the entertainment industry was discussed. Speakers featured in the Healthy Cities Healthy Streets panel reflected on lessons learned from the utilization of streets as public spaces, changes in transportation to ensure equal access, and how public spaces support economic development in Hollywood. Panelists in the Growing Connectivity in a Post-Pandemic World discussed digital equity, expanding infrastructure, and the future of 5G technology in the Hollywood community. The Development Map Reveal and Future Projects in Hollywood session summarized the statistics of over 120 development projects and talked about three exciting new developments within Hollywood.

The Hollywood Chamber of Commerce was excited to unveil, for the first time in Chamber history, a completely online version of the Economic Development Map. Users have the ability to access the map virtually and view all current development projects in the Hollywood area and search for projects based on project status, project type, and through the plotted map feature.

closed with a presentation from Chris Thornberg, Founding Partner of Beacon Economics, summarizing the Hollywood Chamber of Commerce Economic Analysis and COVID-19 Economic Recovery Framework. Dr. Thornberg highlighted on the importance of not only studying the effects that coronavirus has on the business community but see this opportunity as an inflection point; how will the Hollywood business community not just return back to pre-pandemic norms, but soar through new economic realities.

ABOVE IMAGE: A glimpse of the Hollywood Chamber's online map detailing Hollywood's current and upcoming development projects.

COVID-19 ECONOMIC STIMULUS

As the end of 2020 draws near, the President signed an additional economic stimulus package into law providing $900 billion in economic relief to businesses and people across the nation struggling to make ends resulting from

Trusted News Delivered to Your Inbox

NEWSLETTERS

#TRUTHTELLING SINCE 1905

the ongoing coronavirus pandemic. The 5,600-page bill continues measures enacted through the stimulus package approved earlier this year, such as unemployment benefits and stimulus checks to qualifying individuals, and establishes new benefits to help working families. The Paycheck Protection Program for small businesses has also been continued, providing $285 billion in loans for small businesses, but this time restricts the benefits to companies with 300 employees or less who have seen at least a 25 percent reduction in sales and are not a publicly traded company. The bill also provides billions for K-12 and higher education assistance, increased broadband infrastructure, and childcare assistance programs. The moratorium on evictions has been extended until January 31st, 2021 while the Department of Housing and Urban Development released a similar moratorium protecting homeowners from foreclosures. Congress is currently negotiating a bill to increase the $600 stimulus payments to $2,000 for each qualifying individual, a move that President Trump will support if passed by both the House and Senate.

'Because They Can': Inside the Growing Debate on Media CEOs' Jaw-Dropping Salaries APRIL 30, 2019 From the Magazine

The leaders of the Writers Guild of America have started laying the groundwork for writer members to operate without agents. READ MORE

Can Hollywood’s Biggest Media Companies Avoid Getting Crushed by Debt? Breaking News JANUARY 15, 2019

With many economists predicting a recession could hit the U.S. economy in the coming months, the media business could be in for a rou … READ MORE Listen: What a Recession Could Mean for the Media BusinessBreaking News FEBRUARY 26, 2019

Discovery chief David Zaslav's 2018 windfall fuels growing opposition from investors and activists over excessive CEO pay. READ MORE

The upcoming “Lord of the Rings” series at Amazon has made its first casting decision... READ MORE 'Lord of the Rings' Series at Amazon Taps First Cast Member (EXCLUSIVE)JULY 22, 2019 Breaking News

Celebrities from across Hollywood are demanding more gun control following two mass shootings in... READ MORE Media giants have piled up mountains of debt. AT&T, Disney and Comcast now need to make sure they don’t get crushed under… READ MORE

Sony Pictures Buys Nurulize, a Virtual Production Software Startup (EXCLUSIVE) JULY 08, 2019 Breaking News

Celebrities Demand Gun Control Amidst Multiple Shootings: ‘It’s About Life and Death’ AUGUST 4, 2019 Breaking News

Writers Guild Preps Members for Life Without Agents, Debuts Submission System APRIL 01, 2019 Breaking News

Sony Pictures Entertainment’s Sony Innovation Studios has acquired Nurulize, a startup whose software lets users edit... READ MORE

"Vice Live" will air four days a week from Vice's Brooklyn headquarters, and serve as a flagship for the brand's talent and properties. READ MORE Viceland Will Relaunch Primetime With Nightly Live 2-Hour Variety Show (EXCLUSIVE) Breaking News JANUARY 17 , 2019

The leaders of the Writers Guild of America have started laying the groundwork for writer members to operate without agents. READ MORE How America's Biggest Theater Chains Are Exploiting Their Janitors MARCH 27, 2019 Daily Variety