City Gives Green Light to Video Game Company - 8 News NOW

City Gives Green Light to Video Game Company

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LAS VEGAS -- A video game company plans to move from California to downtown Las Vegas under a deal approved by the city of Las Vegas.

The city's Redevelopment Agency Board approved a $1.2 million deal Wednesday to bring one of the world's leading gaming companies to southern Nevada. Take-Two Interactive software Inc. produces games like Grand Theft Auto, Borderlands, 2K Sports, and X-Com. The company plans to move one of its training facilities from Northridge, California to Las Vegas. The facility will create 150 full-time jobs.

Take-Two struck a deal with the city that will involve getting incentives, such as parking spaces, for the re-location.

2K Games CEO David Ismailer said a study of Las Vegas showed there are talented employees available that the company needs.

"This is just a wonderful thing. It's not the size of the company that counts. One hundred, 150 people that's a big deal, ...  but the main thing is word of mouth of what this industry is. That this is a good place to be," Councilman Bob Coffin, Las Vegas.

The IT sector -- which includes the video game industry -- is already a $60 billion industry in Las Vegas. Company officials see Las Vegas as a great place for the company to grow. The company will sign a seven year lease to use two floors of a building at the intersection of Carson Avenue and 3rd Street. It is expected the company will move into their new testing studio by the beginning of 2013.

City officials estimate the company will have an economic impact on Las Vegas over the next seven years of $14.9 million.

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