Internet Travel Monitor - Industry News
June 14, 2017
Las Vegas Convention and Visitors Authority Receives Final Approval
for Expansion and Renovation of Las Vegas Convention Center District
Today, the Las Vegas Convention and Visitors Authority (LVCVA)’s Board of Directors gave final approval for the expansion and renovation of the Las Vegas Convention Center in a historic decision that secures Las Vegas’ position as the world’s premier business destination.
“Today marks a monumental occasion for not only the LVCVA but also the entire destination,” said Rossi Ralenkotter, LVCVA President and CEO. “We commend the foresight of our community and state leaders for recognizing the importance of the LVCCD and we are eager to get to work! We will ensure that the LVCVA continues to provide the world-class facility and experience our clients expect when they come to Las Vegas.”
LVCVA staff worked in partnership with Cordell Corporation principal Terry Miller, the agency’s contracted builder representative, to develop the vision for the expansion and renovation project.
Nevada State legislators and Nevada Governor Brian Sandoval approved a bill during a 2016 special legislative session paving the way for development of the Las Vegas Convention Center District. The $1.4 billion project will add 600,000 square feet of new meeting space ensuring Las Vegas remains the No. 1 trade show destination for decades to come. The legislation established a 0.5 percentage point increase in Clark County’s room tax to help fund the Las Vegas Convention Center District. The legislative session followed a 14-month vetting process by the Southern Nevada Tourism Infrastructure Committee, a group created by Governor Sandoval to review several projects critical to the future of Southern Nevada.
The convention center expansion and renovation is expected to support nearly 14,000 construction jobs and nearly 7,800 full-time permanent jobs upon completion. The project will generate an additional $1.4 billion into the economy during construction and have an annual incremental economic impact of $810 million while attracting one million additional visitors each year.
The LVCCD expansion and renovation will be completed in a phased approach with a projected completion date of 2023. Phase 1 will be the construction of the new 1.4 million-square-foot expansion with 600,000 square feet of exhibit space and the accompanying meeting rooms and support space. This phase is projected to be complete by 2021. The second phase will be the complete renovation of the existing 3.2 million-square-foot facility. The phased approach will ensure that no business will be displaced during the construction and renovation.
The project will allow the Las Vegas Convention and Visitors Authority to pursue new business opportunities while also growing the shows currently taking place in the destination. The LVCVA has identified 70 additional, new events, that could potentially be brought to the destination in the next decade. These 70 shows would grow the economic impact of Southern Nevada’s $12.4 billion meetings and conventions industry by nearly 50 percent.
Las Vegas as a Business Destination
Copyright 2017 Las Vegas Convention and Visitors Authority. All rights reserved. From http://www.lvccdistrict.com.
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