During construction phase, the Wilshire Grand Redevelopment will create over 7,000 jobs in Downtown Los Angeles. Once complete, the project will create an additional 5,500 permanent new jobs. Over one billion dollars in annual economic output is expected from the development providing tax revenues to the City of Los Angeles in excess of $20 million per year. Convention Center business and tourism will increase substantially with the addition of 560 hotel rooms to the Downtown/Financial District.