LA Approves $2.6-Billion Convention Center Expansion
Key Highlights
- The project has a total construction value of $2.6 billion and will create over 15,000 jobs during development.
- The expansion is attract more visitors to downtown LA, adding approximately $150 million annually in tourism spending..
The Los Angeles City Council approved the L.A. Convention Center (LACC) Expansion and Modernization Project, underscoring the City’s commitment to maintaining its status as a world-class destination with a thriving tourism industry, according to a press release. A post at www.constructiondive.com said the total construction value of the project is $2.6 billion.
This public infrastructure investment will create more than 15,000 jobs, add $652 million in General Fund tax revenue over 30 years and draw in over $150 million in additional visitor spending each year. View a video with renderings of the project here.
According to the release, “This project will spur much-needed economic growth in the region. Local businesses, especially in Downtown L.A., are dependent on direct and indirect spending from the LACC. This vote immediately helps local hotels as new bookings for the LACC will be confirmed for the upgraded space. It signals to investors, developers, local businesses and major industries that the City is committed to building a more prosperous future as a global leader and the chosen destination for organizations and associations to convene.”