The World Market Center was conceived by Shawn Samson and Jack Kashani, both of Los Angeles-based Furniture Mart Enterprises. It would be built on , located beside
Interstate 15. Speaking of any proposed project for the site, Goodman said, "I want people when they're driving by it on the freeway to say they've never seen anything like it." The project, known as the World Market Center, was officially unveiled in February 2001. The land purchase was finalized that year, and the proposed project was expanded to . At that time, it was planned as a 10-building complex, with the added consisting of hotel, residential and office space. Although San Francisco and
High Point, North Carolina were known for their furniture industries, Las Vegas was viewed as a superior city for its abundance of hotel rooms, as well as its popularity as a convention city. The World Market Center sought a $115 million property tax rebate, The city denied the request in 2001, but approved a $40 million rebate the following year, after lengthy negotiations.
The Related Companies also provided financing. Furniture Mart Enterprises broke ground on the project on March 21, 2003, with
The Whiting-Turner Contracting Company as
general contractor. It was set to open in 2004, although this was pushed back due to permitting issues. The foundation for the first structure, Building A, was eventually poured in January 2004. The World Market Center opened on July 25, 2005, with Building A hosting the
Las Vegas Market show as its first event. The twice-annual Las Vegas Market brought an estimated 62,000 people during its first two shows. The World Market Center's early success had a negative impact on the
San Francisco Mart, while High Point remained a viable competitor. The World Market Center also led to renewed interest in downtown redevelopment. New expansion plans for the market were announced several months prior to its opening, the final goal being a $2 billion, eight-building complex featuring , with completion expected by 2015. These plans never fully materialized, although two more buildings would be added within a few years of the initial opening. Whiting-Turner returned as the contractor for Building B, Building C was constructed by the Penta Building Group. It was
topped off in October 2007, and opened on July 28, 2008. During its first three years, the center attracted an estimated 300,000 people. Occupancy and sales at the World Market Center dropped because of the recession, and the center defaulted on mortgages covering two of its buildings. As a result of the recession and financial problems, ownership of the World Market Center was merged with its rivals in High Point, forming the new company International Market Centers (IMC) in 2011.
Blackstone Group later partnered with Fireside Investments to purchase IMC, a deal that was completed on September 26, 2017. The closure of
Cashman Center in 2017 left downtown Las Vegas with only of convention space, spread across 10 different resorts. In 2018, IMC proposed an addition to the World Market Center that would add to downtown's convention space. The city approved the project and contributed $30 million in tax increment financing. The ultimate cost of the facility was $103 million. The addition, known as the Expo at World Market Center building, began construction in August 2019. and built by the Penta Building Group. The project was topped off on December 19, 2019, and was completed the following year, although its opening was delayed because of the
COVID-19 pandemic. It eventually debuted on April 9, 2021. ==Features==