Paramount’s California Exodus Could Cost the State Billions and Tens of Thousands of Jobs
TL;DR
A leaked LAEDC analysis warns that Paramount’s potential relocation of its California operations amid the Warner Bros. Discovery merger dispute could cost the state up to about 58,000 jobs and $21.2 billion in annual economic output, with tax revenue falling by roughly $585 million to $1.17 billion a year. Even partial reductions in California spending could trigger hundreds of job-years and hundreds of millions in yearly output.
- Paramount’s threat to flee California could cost state nearly 58K jobs, $21B a year: leaked report New York Post
- Paramount’s possible Hollywood exit puts Los Angeles on edge Los Angeles Times
- Huge Job Losses And Economic Pain If Paramount Exits L.A., Report Says Deadline
- Paramount Leaving California Would Devastate Los Angeles Economy, Leaked Report Finds Variety
- L.A. study sees California facing billions in economic losses if Paramount pulls up stakes (PSKY:NASDAQ) Seeking Alpha
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