After touring DreamWorks Animation and meeting film industry representatives, President Obama told a crowd of about 2,000 people at the company’s expansive Glendale campus on Tuesday that the entertainment industry has been a bright spot during a protracted financial crisis.
“This is one of America’s economic engines,” Obama said, adding that U.S. officials should strive to keep it that way by giving the industry a competitive edge.
According to the Bureau of Labor Statistics, the motion picture, sound recording and broadcasting industries added 4,100 jobs in October, or a 0.6% increase.
Since the end of the recession, those industries have added 9,500 jobs, or a 5.5% hike, according to the bureau.
Also, DreamWorks’ employment base has risen by nearly 50% since Jan. 1, 2008, company officials said.
While Obama said entertainment is one of the country’s biggest exports, tax incentives are still luring productions away from Hollywood and even out of the country, causing growing concern for industry insiders and local political officials.