HISTORY OF THE REGIONAL CENTER

Originally designated only to make investments in the motion picture and television industry in Los Angeles, the "Los Angeles Film Regional Center" was established to provide financial incentive to the motion picture and television production industry in California and centered in Los Angeles County.  Although the U.S. leads the worldwide motion picture and television industry, an estimated 51% of total motion picture and television series developed and intended for release or broadcast in the U,S, by U.S. film studios industry-wide are, in fact, filed outside of the country.  As a result, although these film and television productions generate revenue from U.S. audiences for U.S. studios, a substantial number of jobs involved in these productions are not held by U.S. workers, and the indirect spending and employment impact of these productions on local economies are lost.  

Moreover, although several states within the U.S. have legislated tax credit and other financial incentive programs to attract productions back to the U.S., attempts to legislate similar incentives in California, where the vast majority of the country's production facilities and talent are located, have repeatedly failed. Over the past several years, Los Angeles County's film and television production employment has steadily declined. The continued economic loss to Los Angeles County from these "runaway productions" is particularly important because its economy is so clearly centered around the motion picture and television industry, accounting for more than 45% of the U.S. motion picture and television industry employment and economic output.  The Los Angeles Film Regional Center was designated specifically to counteract these negative impacts.

As the Los Angeles Film Regional Center was able to facilitate studios keeping motion picture and television production in Los Angeles, we expanded the designation so that other target industries important to Los Angeles County's economic development could similarly benefit.   We look forward to introducing our first non-film related investment opportunities soon.  In accordance with the expanded range of target industries now permitted by USCIS, the name of the regional center was changed to the Los Angeles County Regional Center.

With respect to all investments projects in the motion picture and television target industry, we will we work in conjunction with EI Capital, a private, for-profit limited liability company whose sole purpose is to facilitate the making and administering of qualifying investments under the Program for the Los Angeles County Regional Center.  EI Capital's staff has extensive experience in the motion picture and television production industry, in particular, the structured financing of such productions for major studios. They have also been instrumental in guiding legislative changes in a number of states that have benefited the entertainment industry, including financial incentives to attract productions. They have also worked closely with foreign investors and governments to help them invest in the film and entertainment industry in the United States.

For investment projects in our other target industries, we will work with individual developers and businesses located in Los Angeles County, and whenever possible, with the Los Angeles County Economic Development Corporation.