The Las Vegas trade show industry grew by double digits in the first half of 2016, according to a recent release from the Las Vegas Convention and Visitors Authority.
More than 3 million visitors with plans to attend a meeting or convention landed in Las Vegas through May 2016. That was a 12.1 percent increase over the same time last year, reported the authority.
According to a release from the authority, for more than two decades, Las Vegas has also been named as the top trade show destination by Trade Show News Network, a news and online resource for the trade show, exhibition and event industry.
On Trade Show News Network’s list of the largest 250 trade shows held in the U.S. in 2015, based on square footage, Las Vegas hosted 54. The annual Consumer Electronic Show was ranked No. 1 on the list with 2.2 million square feet of exhibit space being covered.
The Las Vegas numbers also are on the rise for convention space with CES utilizing 2.47 million square feet in 2016, with 170,000 attendees.
Other shows in the city, including InfoComm and ISC West at the Sands Expo Center, also broke records in attendance and square footage used in 2016.
In 2015, nearly 22,000 meetings were held in Las Vegas with 5.9 million delegates. The impact on the local economy equated to more than $9 billion, which supported 66,500 jobs and $2.7 billion in local salaries and wages, according to the authority.
On the horizon, Las Vegas is planning to grow even more with its planned expansion and renovation of the Las Vegas Convention Center. Along with that, developments by Wynn Resorts, Caesars Entertainment, MGM Resorts International are proposed or under development in the valley — equating to more than $9 billion, reported the authority.
Nominations open for 2016 Business Excellence Awards
The Las Vegas Metro Chamber of Commerce is now accepting nominations for local businesses for its 2016 Business Excellence awards in the fall.
Potential honoree business entities can self-nominate or nominate another business for things such as company culture, innovation in a business’ industry, problem solving or overcoming an obstacle.
A nominee’s operations can come in any size but must be a member in good standing of the chamber.
Winners will be honored in the fall at the chamber’s annual Business Excellence Awards luncheon and in a special feature in the October issue of the Business Voice!, the chamber’s monthly magazine.
The nomination form can be found online at www.surveymonkey.com/r/MQHC5FF
Once there, the user will be asked for information about the nominee, including a 30-word description of what it does and what makes that nominee “excellent” — in 500 words or less.
For more information, contact Jackie Fisher at jfisher@lvchamber.com or 702-586-3843.
Nevada Bar Foundation receives over $3 million under mortgage settlement
The Nevada Bar Foundation, a charitable arm of the State Bar of Nevada, recently received funds under Bank of America’s mortgage settlement with the Department of Justice and six states.
The more than $3.2 million settlement stemming from legal claims on mortgage-related activity by Bank of America and its subsidiaries will go toward legal assistance in foreclosure prevention and community redevelopment, according to a written statement from Eric D. Green, an independent monitor of Bank of America’s settlement in August 2014.
As part of the settlement with Bank of America, a fund was created to provide homeowners federal tax assistance to homeowners in case federal regulators failed to extend the Mortgage Forgiveness Debt Relief Act, which would remove income tax liabilities for homeowners who had mortgage debt forgiven by lenders during the recession.
In December 2015, President Barack Obama signed the act into law, and distribution of more than $490 million in surplus was triggered.
At that time, more than $367 million was pegged for distribution to eligible legal-assistance organizations in each state, the District of Columbia and each U.S. territory or possession, with the remaining funds would head to NeighborWorks America under the settlement with Bank of America.
A base amount of $200,000 was allocated for each of these regions, with the remainder to be dispersed based on an area’s poverty population data collected through the U.S. Census Bureau.
