FY16 Annual Report Released
The Javits Center has released its Fiscal Year 2016 Annual Report, featuring the latest improvements at the facility, news on the expansion ahead and increases in the economic activity generated throughout the New York region. The 40-page report also celebrates the 30th anniversary of the Javits Center, which first opened its doors on April 3, 1986. Since then, the building has become an economic powerhouse, generating billions of dollars in economic activity, as its surrounding neighborhood evolves into one of New York’s most sought-after areas.
“The Javits Center is in the midst of a renaissance,” President and CEO Alan Steel writes in the report. “With a recent renovation completed, an exciting expansion project on the horizon and new developments throughout Manhattan’s West Side, the building is buzzing with the possibilities of new events and new economic opportunities.”
In Fiscal Year 2016, the Javits Center hosted more than 175 events and generated $1.95 billion in economic activity, an 8.3% increase compared to the previous year. In addition, 17,700 jobs were supported, both directly and indirectly, a 1% increase compared to the previous year, while attracting more than 39,000 exhibiting companies. This activity further proves the popularity of the convention center and its ability to serve as an economic engine for New York’s hotel, restaurant, transportation and tourism industries.
“Tourism is one of the Empire State’s most successful industries, and one of the key contributors to a robust tourism economy is a successful convention center that spurs new jobs and new business opportunities,” Governor Cuomo writes in the report. “Over the past 30 years, the Javits Center has done just that. “
In January 2016, Governor Cuomo announced that the Javits Center will break ground on a new $1 billion expansion project in the months ahead, including more exhibition and meeting room space, the largest ballroom in the Northeast, a rooftop terrace and an on-site truck marshaling facility.
“As we plan to break ground on a massive expansion, the next four years will be the most critical period in the history of the building,” Mr. Steel writes. “After 30 years of operation, the future of the Javits Center has never looked so bright— thanks to the support of Governor Cuomo, his team and all of our customers.”