By Keith Loria, Contributing Editor
The board of directors for the Las Vegas Convention and Visitors Authority approved a $1.4 billion renovation and expansion of the Las Vegas Convention Center.
“Today marks a monumental occasion for not only the LVCVA but also the entire destination,” Rossi Ralenkotter, LVCVA’s president & CEO, said in a prepared release. “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.”
The project also received approval from both the Oversight Panel for Convention Centers in Clark County and the Las Vegas Convention Center District Committee, a sub-committee of the LVCVA board.
Last year, Nevada Governor Brian Sandoval approved a bill during a special legislative session paving the way for development of the Las Vegas Convention Center District. When completed, the project is expected to add 600,000 square feet of new meeting space, keeping Las Vegas as a leading trade show destination for decades to come.
The expansion and renovation is expected to generate approximately 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.
“Las Vegas has maintained its reputation as a leading destination for business travel because our destination has a long tradition of working together to make great strides that benefit both our visitors and those who call Southern Nevada home,” Lawrence Weekly, chairman of the Las Vegas Convention and Visitors Authority and Clark County Commissioner, said. “The LVCCD project is among the most thoroughly vetted, most approved projects in this region and it represents a tremendous opportunity to create jobs, support local families, stimulate our economy and continue to move Las Vegas forward.”
Phase One of the project will consist of a 1.4 million-square-foot expansion with 600,000 square feet of exhibit space and accompanying meeting rooms and support space. The expected completion date is sometime in 2021. Phase Two will consist of a complete renovation of the existing 3.2 million-square-foot facility. That phase is expected to be done by 2023.
According to Trade Show News Network, Las Vegas tops the list of trade show destinations in the country, a distinction it has held for 23-straight years.