Las Vegas News
The Las Vegas Arena Foundation Presents a World-class Las Vegas Arena
“Our community must have this new arena to maintain our standing as a premier resort destination and the entertainment capital of the world,” said Bruce Woodbury, president of the Las Vegas Arena Foundation. “Our Foundation will deliver a state-of-the-art arena that will enable our city to attract a professional sports team from the NHL or NBA. Additionally, this arena will allow Las Vegas to keep vital existing events, like the National Rodeo Finals.”
The Las Vegas Arena Foundation is proposing a 0.8% sales tax only in the Strip area to pay for this arena. Limiting the tax area to the Strip will limit the anticipated tax impact to Las Vegas residents to approximately $1 per year.
“Our Arena Foundation will guarantee that thousands of good-paying union jobs will be created during the construction and into the operation of the arena,” said Danny Thompson, board member of the Las Vegas Arena Foundation and president of the AFL-CIO of Nevada. “As a not for profit organization, our Foundation will ensure this arena will be open and available for our entire community, UNLV, casinos and residents.”
Highlights of the Las Vegas Arena Foundation proposal include:
- The best location, Center Strip and within walking distance to the 37,000 hotel rooms currently located on the Las Vegas Strip;
- Iconic and best-in-class arena design by world renown architects;
- AEG, an arena management team, that has the broadest, most powerful network of entertainers and professional sports connections;
- Flexible design that will allow the arena to host a vast array of sporting and entertainment events;
- The only upcoming project that will create jobs, 3,390 construction jobs and 4,000 ongoing jobs;
- This arena will generate $660 million in economic value during the construction phase and $240 million in economic activity annually; and
- The Las Vegas Arena Foundation is comprised of long-standing, devoted community leaders, including: Marybel Batjer, Cedric Crear, Jason Goudie, Mark James, Thom Reilly, Pat Shalmy, Danny Thompson and Bruce Woodbury.
ABOUT THE LAS VEGAS ARENA FOUNDATION
The Las Vegas Arena Foundation is a not for profit foundation. Formed solely for the purpose of promoting and establishing a world-class sports and entertainment arena in Clark County, Nevada, the Foundation has brought together the finest local and international consultants to create and develop a cutting edge facility for Las Vegas, including: AEG, Brownstein Hyatt Farber Schreck, Kaemfer Crowell, Klai Architects, Kimley-Horn and WA Richardson.
SOURCE Las Vegas Arena Foundation
