Las Vegas Global Business District Could Have $700 Million Annual Impact
The proposed Global Business District in Las Vegas could sustain up to 6,000 jobs, have an annual economic impact of nearly $700 million, and pay out $221 million in wages and salaries a year, according to a feasibility study conducted last week by the Cordell Corp., a project management firm. The $2.3 billion Global Business District development, proposed last year, would feature a 1.8 million-square-foot expansion of the Las Vegas Convention Center, including 750,000 square feet of new exhibit space and 187,500 square feet of new meeting space. The second phase of the project would entail renovating the convention center's existing space, including a 100,000-square-foot general session hall and another 100,000 square feet of meeting space. Additional construction in the surrounding campus would expand the overall area of the facility from 3.2 million square feet to about 5.7 million square feet. Authorities estimate the project will take five to eight years to complete, once construction begins. The construction portion alone is projected to bring 6,000 jobs and $3.6 billion in economic activity to the region. "The Global Business District is a watershed moment for Southern Nevada, and it's a moment that we must seize for the benefit of our entire community," said LVCVA president and CEO Rossi Ralenkotter. "I believe it helps to secure a strong future for our city."