An Assessment of whether the Convention Center in New York is Successful as a Tool for Economic Development

Abstract

In recent years, cities of all sizes have developed or expanded convention centers with the goal of stimulating economic or physical revitalization. The justification for such rapid growth has focused primarily on the benefits of convention center development and much less on the costs. The research at hand uses the case method to more fully examine both sides of the issue. The case is the Jacob Javits Convention Center in New York and discussion focuses on issues such as convention attendance, conventioneer spending, and center financial performance within the more macro context of urban affairs. This paper begins with a general discussion of the center and its location, and is tied to the literature by an explanation of the city's pattern of decline. Ensuing discussion encompasses issues specific to this case, such as the economic activity generated, subsequent tax revenues, and the degree of spin-off development near the center. The conclusion of the article considers the fiscal and physical impact of the Jacob Javits Convention Center.