Locals Tout the Economic Impact of Academy Award®-Nominated “The Big Short” in Louisiana

With just about a month until the Academy Awards®, Paramount Pictures and Regency Enterprises’ “The Big Short” continues to be front and center of the conversation surrounding 2015’s best films. It’s up for five awards, including “Best Picture.”

But “The Big Short” isn’t just impressing audiences. Local business and labor leaders in Louisiana are also touting the film because they were first-hand witnesses to its positive impact on the state’s economy.

In fact, newly released studio figures reveal that the film’s production contributed $8.8 million to Louisiana’s economy and created jobs for nearly 3,000 local workers in the state. This economic activity rippled through communities big and small, lifting businesses and boosting wages for high-skilled workers — from carpenters and seamstresses to painters and lighting technicians.

Louisiana is able to reap the benefits from exciting productions like “The Big Short” because of its strong production incentives, wide-variety of landscapes, and highly-skilled crew base, among other factors.

“Louisiana’s commitment to developing and sustaining a competitive production climate continues to pay dividends with films like ‘The Big Short’ – that are both critically acclaimed and a boon to the local economy,” said MPAA Chairman & CEO Senator Chris Dodd.

And Lee Rosenthal, President of Physical Production at Paramount Pictures, added, “Our experience making ‘The Big Short’ in New Orleans was top notch. The city’s diverse locations provided the ideal backdrop for so many of the film’s important scenes, which was particularly helpful in keeping production centralized.”

Here’s what some of the local leaders and business owners in Louisiana have been saying about “The Big Short”:

• Joe Helm, owner of Helm Paint & Decorating, a business with six locations throughout Louisiana: “The Big Short’ and film productions have been nothing but a positive for us. Not only do we see a difference in terms of profitability, but I also see how movie productions benefit the entire community. They spend money at the restaurants, on real estate, and at other local businesses. It’s an engine that drives a strong economic sector in our state.”

• Dawn Arevalo, Assistant Business Agent with IATSE Local 478: “Filming throughout Louisiana has continued to provide job stability and security for many locals who are impacted both directly and indirectly. This industry has kept many Louisiana residents in-state and able to provide for their families. Small businesses and communities are now able to flourish from an increase in businesses as a direct result of the film industry.”

• Stephen Perry, President and CEO, New Orleans Convention and Visitors Bureau: “Every time a major film or television production comes to town it positively impacts our economy and local businesses. This is clearly demonstrated by Paramount Pictures and Regency Enterprises’ ‘The Big Short’ and its positive impact on jobs and wages in Louisiana.”

• Robert Vosbein, President of the Louisiana Film and Entertainment Association: “This film is yet another example that showcases Louisiana as the best place to film. Our state-of-the-art facilities, experienced crews and talent made Louisiana the ideal choice for ‘The Big Short.’ With over 1,000 films produced in Louisiana to date, productions embrace our vibrant film-friendly atmosphere and all that we have to offer.”

Find out where to watch “The Big Short” at WhereToWatch.com.

Featured image is courtesy of Paramount.