A major expansion of the Las Vegas Convention Center was given the green light by the Las Vegas Convention and Visitors Authority’s Board of Directors, clearing the way for a $1.4 billion project that will create an extended district surrounding the city’s current venue.
The project will be completed by 2023, authorities say, though it will be carried out in multiple phases. The first phase, which is expected to be completed in 2021, will be to construct a new 1.4 million-square-foot expansion that will have 600,000 square feet of exhibit space along with additional meeting spaces. The existing facility will undergo a complete renovation in Phase 2.
Dubbed the Las Vegas Convention Center District, the project will be funded by a .5 percent room tax and is expected to add 7,800 full-time permanent jobs and a million additional visitors to the city as well as generate an economic impact of $810 million annually.
“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.”
For more info, visit http://www.lvcva.com.