Is NBCUniversal development bigger than even Harry Potter?

Well, that depends on your point of you, but Universal City's $1.6-billion makeover, which includes a Harry Potter attraction, will undoubtedly provide an economic boost for the eastern portion of the San Fernando Valley. The Potter pavilion replaces the Gibson Ampitheatre (formerly the Universal Amphitheatre). From this week's Business Update on KPCC:

Mark Lacter: They're careful not to call an expansion - but which does involve adding about a million-and-a-half square feet of production and office space, along with room for two hotels, restaurants, stores, and those theme park attractions.

Steve Julian: County Supervisors finally signed off the plan after years of public hearings...

Lacter: ...and after an earlier proposal to build 3,000 residential units was dropped following lots of opposition. ou know, this has been a case of very conflicting agendas: NBC Universal is looking to bolster its theme park and TV studio operations, homeowners and environmental groups are concerned about additional congestion in the area (it's already plenty congested), and elected officials are trying to appease both sides.

Julian: NBC Universal did agree to accommodate the changes...

Lacter: That's right, they'll spend $100 million in various transit and roadway improvements (that includes upgrades to the 101 Freeway). They'll also have a bike path along the L.A. River, along with additional green space. This isn't a game changer for the local economy, especially since the project will be completed in phases over many years, but it will generate lots of construction jobs - which is good - and it also affirms the fact that the entertainment industry is based here and it isn't going anywhere, no matter how many incentives other states might provide. And, by the way, employment in the entertainment industry was way up in L.A. County in March compared with a year earlier.