FOR IMMEDIATE RELEASE
December 07, 2004
MAYOR MICHAEL R. BLOOMBERG HAILS PASSING OF HISTORIC LEGISLATION TO EXPAND JACOB K. JAVITS CONVENTION CENTER
“Today’s action by the State Legislature, almost twenty years in the making, is an historic milestone in our effort to develop the Hudson Yards area. By authorizing and funding the expansion and renovation of the Javits Center, we are sending a powerful signal that New York City is investing in its future. We have worked tirelessly on this plan, perfecting the details, working with the hotel industry on their contribution, and building a coalition of support. Now that the legally required Legislative approval has been achieved, we will turn our efforts to the two remaining pieces of the plan - the rezoning that will create a vibrant, mixed-use neighborhood and the construction of the New York Sports and Convention Center.
“Ever since the Javits Center opened, it has been clear that the facility is both too small and poorly configured to meet the demand for convention space in the world’s greatest city. As a result, New York City has missed its opportunity to capture its rightful share of the lucrative convention market. In the last three years alone, the Javits Center was forced to turn away almost 600 meetings accounting for nearly two million hotel room nights, and almost $2 billion dollars in visitor spending. While convention organizers clamored to bring new events here, New York City was essentially closed to new business.
“The $1.4 billion first-phase will nearly double available total square footage from less than 800,000 square feet to more than 1.4 million square feet including dramatically more meeting rooms, the largest ballroom in New York City, and a critically-important convention center hotel. When combined with the future expansion, the new Convention Corridor will total over 1.75 million square feet, providing the City with the ability to host virtually any convention, trade show, exhibition or special event. The Javits expansion alone is expected to generate almost $54 million in new annual tax revenues to the City and State, and almost 10,000 jobs in the hospitality industry. The Hudson Yards plan is expected to produce more than $60 billion in new tax revenues, almost 290,000 permanent jobs, and almost 230,000 construction jobs across New York City and New York State.
“I applaud Speaker Silver and Senate Majority Leader Bruno for their leadership in passing this historic legislation, as well as Governor Pataki for his steadfast support of this project. This action is the result of an extraordinary partnership between the City, the State, the private sector led by the hospitality industry and organized labor.”
Edward Skyler / Jennifer Falk (212) 788-2958