The Las Vegas Convention and Visitors Authority (LVCVA) was founded to strengthen the area's convention business, thereby eliminating a critical economic problem: the cyclical nature of the tourism industry.
The LVCVA's mission is twofold:
1. To support the area's hotel and motel inventory by continually increasing the number of visitors to Clark County
2. To operate the LVCVA convention facilities
In the early '50s, community leaders realized the cyclical nature of tourism caused a significant decline in the number of visitors on weekdays, throughout the summer months and during the holiday season. To bring more visitors to the area during off-peak periods, a new market was identified - convention attendees.
In 1955, the Nevada Legislature agreed to finance the Las Vegas Convention Center with a room tax that would be levied on guests staying at Clark County hotel and motel properties. Thereby, visitors, not local residents, would pay the tax. That decision led to the formation of the LVCVA's precursor, the Clark County Fair and Recreation Board.
In April 1959, construction on the Las Vegas Convention Center was completed without any assessment on Clark County residents. Monies collected from room tax enabled the LVCVA to begin a program of destination marketing.
In its current form, the LVCVA promotes tourism, conventions, meetings and special events, all of which contribute to the economic vitality of the "Entertainment Capital of the World." Additionally, the LVCVA owns and operates the Las Vegas Convention Center and Cashman Center.
Today, the LVCVA has an annual budget of more than $188 million for the fiscal year 2004 and has 503 authorized employment positions. In fiscal year 2003, $131 million of the LVCVA budget derived from room taxes. Additional sources of revenue to the LVCVA's general fund include revenue received from gaming taxes and facilities usage.
