This came over the transom yesterday from Mayor Pro Tem Kris Murray:
Expansion of Convention Center Approved
Win-Win for Anaheim
Creating New Jobs & New Revenue for City Neighborhoods
Last night, my council colleagues and I approved a financing plan for the 7th expansion of the Anaheim Convention Center since it was built in 1967, creating thousands of new skilled jobs and generating millions in new economic activity for the City. Hundreds of supporters filled the council chambers expressing strong, vocal support for the expansion.
The expansion will be 100% privately financed with funding made available by a 2% increase in the City’s Transient Occupancy Tax (TOT) that Anaheim and Garden Grove hotels in the designated resort area self assessed themselves in 2010, establishing the Anaheim Tourism Improvement District (ATID).
This expansion is estimated to create 1,860 jobs during construction and 2,043 new jobs supported annually. As well as bring in 14 new conventions and trade shows, 160,000 attendees and 450,000 attendee days. And for Anaheim taxpayers, the expansion creates a total net city benefit of $577.3 million over the next 30 years for city services. This expansion is a huge win-win for Anaheim!
Please take a moment to review the presentation given at last night’s Council meeting by the City’s Finance Director Debbie Moreno, underscoring the significant new funding for city services generated by this expansion.
The Convention Center and greater resort district are the economic engine of our city – and the success of these city assets is the reason Anaheim is now in a position to increase general fund reserves, hire more police and fire fighters, and invest in parks, libraries, graffiti abatement, and city services for all of Anaheim’s residents. Add to that, the City’s nearly 100 capital improvement projects budgeted this year, including two new community centers in distressed neighborhoods, renovations to seven parks, upgrades to streets citywide, as well as investments in energy, water and improved sewer systems.
For more than 60 years, Anaheim’s city leadership has been committed to a vision of creating a world-class destination for visitors around the globe and our residents have enjoyed the benefits: lower taxes with improved city services.
To learn more about the Anaheim Convention Center expansion, visit the City’s website.