Hit series “American Horror Story: Hotel” is proving scarily good for the city of Los Angeles – pumping $55 million into the local economy.

The FX show relocated from Louisiana this season to take advantage of California’s expanded tax credits. Mayor Eric Garcetti hailed the show today as a perfect example of that program’s effectiveness.

“American Horror Story is a success story,” said Garcetti during a press conference on the show’s set at the 21st Century Fox lot in Century City.

“This one show has seen 4,000 Angelenos receive pay checks, pays $21.5 million in salaries to below the line employees and is expected to generate $55 million in direct spending to our economy,” the mayor continued.

California’s plan to curb runaway production and lure TV and movie filming back to the state saw the annual tax credit outlay more than tripled to $330 million with priority given to projects that generate the most jobs and spending.

Among those was “American Horror Story,” which shot its first season in Los Angeles then relocated to Louisiana for its next three installments before returning this season to take advantage of the new incentives.

The latest season, which stars Lady Gaga as the owner of a creepy Art Deco hotel in Los Angeles, proved an instant hit, debuting Wednesday night on FX to a near series high 5.81 million viewers, according to Nielsen. That figure is expected to double when VOD and DVR playback numbers are added on Monday.