Many consider Fall to be a season of change and in 2016, that sentiment proved to be true as a number of positive decisions paved the way for a bright future in Las Vegas.
Oct. 14 marked a historic moment in the history of Nevada as state legislators voted to move forward with two projects, the expansion and renovation of the Las Vegas Convention Center and the development of domed football stadium, that will propel Southern Nevada forward on the national stage, while creating jobs and boosting the economy.
Tourism is Nevada’s No. 1 economic driver, employing nearly half of the people who call Southern Nevada home and this decision represents a once-in-a-lifetime opportunity for Southern Nevada. Our destination thrives on evolution and reinvention these two monumental projects that position our destination to remain a leading tourism destination for decades to come.”
Nevada State lawmakers approved a bill during a special legislative session paving the way for development of the Las Vegas Convention Center District, a $1.4 billion project that will add 600,000 square feet of new meeting space and secure Las Vegas’ position as the world’s premier business destination. The bill also included provisions for the development of a $1.9 billion, 65,000-seat stadium that could house the University of Nevada, Las Vegas football team as well as a potential professional football franchise and a variety of special events.
The legislation calls for a 0.5 percentage point increase in Clark County’s room tax to help fund the Las Vegas Convention Center District as well as an additional .88 percentage point room tax increase to support development of the stadium.
Combined, the convention center expansion and stadium projects are expected to create more than 14,000 jobs and pump one point four billion dollars into the economy. The two projects will have an annual incremental economic impact of $1.43 billion and will attract one million additional visitors each year.
The projects were vetted by the Southern Nevada Tourism Infrastructure committee before the special legislative session was called to order. The group was created by Governor Sandoval to review several projects critical to the future of Southern Nevada. After conducting more than a dozen meetings over the course of 14 months, the committee recommended the convention center expansion, stadium and police proposals move forward for consideration by the Nevada state legislature to determine funding and next steps.
Overall, the tourism industry continues to be crucial to Southern Nevada’s economy generating nearly $52 billion in total economic impact, supporting 368,900 jobs and $14.9 billion in local wages and salaries. These jobs represent 41-percent of Southern Nevada’s total workforce.
The Las Vegas Convention Center District expansion 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.
In addition to the Las Vegas Convention Center District and stadium proposals, Nevada’s legislators also voted in support of a separate bill that would allow the Clark County Commission to raise its sales tax to add additional police resources to the destination.
Want to stay up-to-date on the latest Las Vegas news like the development of the Las Vegas Convention Center District? The LVCVA is always looking for community members to help spread the importance of tourism throughout our community by becoming a Las Vegas Host Committee ambassador. Anyone from the community can become a Las Vegas Host Committee Ambassador by registering on our website www.lvcva.com/host or they can email our office at email@example.com. It costs nothing other than your commitment to better our community. We hope you’ll join us in our mission to support Southern Nevada’s number one industry- tourism!