Slated to become the tallest building west of the Mississippi, project developers report that the project “will infuse more than $1 billion into the Los Angeles economy, create critically needed jobs and sustain the city’s booming travel and tourism industry into the future.” They go on to cite that the construction of the impressive skyscraper has created as many as 11,500 high-paying jobs for the construction industry, which was one of the hardest hit industries during the recent recession. The construction phase is also bringing in nearly $80 million in tax revenue for Los Angeles and the county.
Another plus for the area is that once the Wilshire Grand opens, it will support more than 1,750 permanent jobs as well as provide $16 million annually in new tax revenue. Furthermore, with its immense size, the Wilshire Grand alone will provide almost 20% of the 5,000 rooms necessary to achieve the Downtown’s goal of adding more hotel rooms to the area. An increase in hotel rooms is considered necessary in order to continue to expand Downtown L.A.’s travel and tourism.
Once the Wilshire opens its doors, it will join other newly constructed Downtown attractions such as L.A. Live, the Convention Center, Staples Center, Microsoft Theater, Walt Disney Concert Halls and others. These are more accessible thanks in part to the addition of 1,000 parking spaces (some of which Conco helped to build as part of the Nokia Theater and L.A. Live) and new transit connections.
The Conco Companies are a leading supplier of concrete services for the Western U.S. and got our start in the Bay Area in 1959 by offering clients the best value on a wide range of concrete services and products. Since that time, we have taken a leading role as one of the top concrete contractors in the region. Our offices serve California, Colorado, Oregon, Washington and Nevada.