This board approval follows Governor Pataki and Mayor Bloomberg's announcement of a State-City Memorandum of Understanding to create a Convention Corridor on Manhattan's West Side. The Convention Corridor includes expansion of the Jacob K. Javits Center, and the creation of a the New York Sports and Convention Center, a new multi-purpose facility that will double as a 75,000-seat stadium and a 180,000 square foot exhibit hall -- home both to the New York Jets and possibly the 2012 Olympics. The Convention Corridor will double convention center capacity, enabling New York City to vie for hundreds of events -- and millions of dollars in economic activity -- currently lost to other cities.
"This is an historic day as we take action on what will be a world-class sports and convention facility for New York City," Gargano said. "It is a solid economic development project that will create thousands of jobs while bringing millions of dollars in new revenue that New York City loses each year to other cities."