The Nevada Senate has approved plans for a renovation and expansion to the Las Vegas Convention Center (LVCC), home to thousands of business events, including CES®, the world’s largest innovation event, which draws 165,000+ attendees to Las Vegas annually.
Las Vegas is one of the world’s top destinations for trade shows. In 2015, the city was named the No. 1 trade show destination for the 22nd consecutive year in the Trade Show News Network’s (TSNN) “2015 TSNN Top 250 Trade Shows in the United States” list.
In the first half of 2016, Las Vegas trade shows experienced growth in a number of areas, including square footage, attendance and number of exhibitors. Through May 2016, more than three million visitors traveled to Las Vegas to attend a meeting or convention, a 12.1 percent increase over the same time last year.
Karen Chupka, senior vice president CES and corporate business strategy, Consumer Technology Association (CTATM), owner and producer of CES, said, “We thank the Nevada Senate for approving the proposal to fund the expansion and modernization of the Las Vegas Convention Center, with an estimated completion date of 2023. This critical investment will help us grow CES, the world’s largest annual business event which is held in Las Vegas every January, and will allow us to continue to bring hundreds of millions of dollars each year into the Las Vegas economy even in the interim while the expansion takes place.
“This investment will pay dividends far into the future for the city and citizens of Las Vegas and greater Nevada. For the immediate term, the expansion will bring an estimated $2.1 billion in construction-related money to the local economy. The long-term economic impact is estimated at $810 million annually and will generate more than 7,800 full-time permanent jobs.”