Los Angeles Convention Center Generates Record-breaking $781 Million in Economic Impact for City of L.A.
September 28, 2017
If the Los Angeles Convention Center’s recent fiscal report is any indication, the Downtown L.A. facility most certainly is not a loss-leader, but rather an integral economic impact generator for the City of Los Angeles.
The LACC recently reported generating a record-breaking $781 million of economic impact for the City in fiscal year 2016/2017, with $478 million attributed to convention attendee direct spending.
An additional $26.4 million was generated in tax revenues to the City, with $18.2 million in hotel transient-occupancy tax contributions to the City’s general fund – an increase of more than $90 million in total economic impact during the previous fiscal year.
“As a centerpiece of Downtown L.A., the Los Angeles Convention Center has proven to be an integral economic impact driver for the City,” said Doane Liu, executive director of the Los Angeles Department of Convention and Tourism Development.
He continued, “LACC events support L.A.’s economy through the direct and indirect spending by event and convention attendees on travel, lodging, meals, transportation and entertainment, saving local taxpayer dollars and contributing funds for essential city services.”
The facility also set a record in the number of events it hosted, including a rise in citywide conventions that resulted in an increased occupancy rate of 74 percent (according to industry standard, a convention center is considered fully occupied at 70 percent).
During fiscal year 2016/2017, the LACC hosted 2.2 million visitors across 215 events, including consumer shows, industry trade shows and 32 large-scale citywide conventions such as the American Society of Cataract and Refractive Surgery, American Association of Neurological Surgeons and College of Chest Physicians, which filled an estimated 526,000 hotel room nights while sustaining 12,700 local jobs.
Since assuming management of the LACC in late 2013, AEG Facilities has worked closely with the Los Angeles Tourism & Convention Board to increase event bookings every year.
Besides hosting myriad conventions, trade shows, meetings and events of all shapes and sizes each year, the LACC also works to demonstrate its commitment to environmental sustainability and social responsibility by attaining and maintaining LEED Certification through the U.S. Green Building Council.
The venue was re-certified on the Gold level in 2015, making it the largest convention center in the U.S. to receive LEED EB: O+M Gold re-certification.
Partner Voices
MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.
At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:
Protecting Natural Resources
MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.
Committed to Community
Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.
MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.
Fostering Diversity & Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.
Add new comment