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 District (LVCCD), in a move aimed at improving Las Vegas’ position as one of the world’s premier business destinations.
The $1.4 billion project will add 600,000 square feet of new meeting space.
The convention center expansion and renovation is expected to support nearly 14,000 construction jobs and nearly 7,800 full-time 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 two phases with a projected completion date of 2023. The first phase will be the construction of the new 1.4 million-square-foot expansion, to be complete by 2021. The second phase will be the complete renovation of the existing 3.2 million-square-foot facility, ensuring that no businesses are 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 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:
- Las Vegas hosted nearly 22,000 meetings, conventions and trade shows in 2016
- The destination has over 11 million square feet of meeting space, plus event, dining and entertainment venues that are also used for group business
- Trade Show News Network recently recognized Las Vegas as the No. 1 trade show destination in the country for the 23rd consecutive year for hosting 57 of the top 250 largest trade shows in North America
- The Las Vegas Convention Center (LVCC) hosts more than 22 percent of all convention attendees traveling to Southern Nevada
- The facility directly supports 11,800 local jobs and $495.1 million in local wages and salaries.
- The LVCC hosted 73 events in 2015 with a combined attendance of 1.8 million people. These visitors generated $2.7 billion in total economic output in 2015