The Las Vegas Convention and Visitors Authority (LVCVA) on Tuesday unveiled its plans to renovate the Las Vegas Convention Center.
"As a destination, how are we going to compete over the next 25 years? We need to take these steps today," said Rossi Ralenkotter, LVCVA president and CEO.
The $2.5 billion Las Vegas Global Business District project will be done in four phases, adding more exhibit space and upgrading the facility's technology.
This will be the first major renovation for the 54-year-old convention center in more than a decade.
The second focus will be creating an international business center.
"This is the time, as we are coming out of the recession, this is the time to make the bold statement. The competition is always there and competition is good," added Ralenkotter.
The renovation and expansion is also expected to create jobs.
"It's exciting for everyone because when you have those conventioneers coming to Las Vegas, they provide the jobs for the taxi drivers and the people that work in the restaurants and tips and everything else," said Scott Nielson, executive vice-president for Station Casinos.
Once complete, the 10-year project is expected to increase the volume of visitors to 7 million by 2023, while creating an economic impact of $2.6 billion.
"Everything that Las Vegas has to offer allows us to attract 40 million people a year. We need to make sure we keep this momentum going as we go into the future," added Ralenkotter.
"We are a first class city. This needs to be first class and this cannot cut corners. We have to do it right," said the Las Vegas Mayor Carolyn Goodman.
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