San Francisco's Moscone Center Gets Expansion Go Ahead
February 13, 2013
Expansion plans for San Francisco’s Moscone Center received a major boost, with the San Francisco Board of Supervisors recently approving the creation of the Moscone Expansion District, which will provide the majority of funding for the expansion of the city’s convention center.
In a unanimous vote, the Board passed a resolution approving the establishment of the MED and three additional measures that will help finance the expansion through issuance of Certificates of Participation and allow the project to move forward in the environmental review process.
“San Francisco Travel is proud to be continuing and expanding our public/private partnership with our City partners to transform the Moscone Center into a state-of-the-art facility that will be even more competitive in attracting conventions to our city,” said Joe D’Alessandro, president and CEO of the San Francisco Travel Association.
The majority of the funding for the expansion project costs will be hotel assessments from the MED.
The remaining will come from a continuation of funding from the city’s General Fund, with project costs estimated to be $500 million.
The expansion of Moscone Center will add approximately 350,000 to 400,000 square feet to the convention center, including 80,000 or more square feet of contiguous exhibit, with a bid to attract larger conventions. The entire three-building complex currently is 1.2 million sq. ft.
“San Francisco has already lost meetings representing $2.057 billion in direct spending as a result of space limitations for meetings with dates between 2010 and 2019. The existing three-building configuration of Moscone Center is effectively filled to capacity,” D’Alessandro said.
He added, “Therefore, it is impossible to significantly grow the San Francisco convention market without providing additional meeting and exhibit space – especially contiguous exhibition space.”
Moscone Center currently hosts 1 million visitors each year and generates more than $1.6 billion in visitor spending.
The expansion is expected to bring several benefits to the city:
Create 3,424 long-term jobs (in addition to construction jobs).
Bring in $713 million in direct spending in the first seven years after expansion opens.
Contribute $320 million more in incremental hotel tax revenues to the General Fund over the life of the District.
The district will begin collecting revenues in July 0f 2013 and construction of the expansion is anticipated to begin November 2014 with completion anticipated in 2018.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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