CARLSTADT, NJ—The Meadowlands Regional Chamber and other officials unveiled a “Vision Plan” for the Meadowlands Sports Complex on Tuesday that calls for a more than $1.5-billion complex that would include a convention center of up to 1 million square feet, two hotels with a combined 2,000 rooms, and four casino gambling sections.

The Vision Plan was unveiled at a press conference held at Red's restaurant in Carlstadt. Jim Kirkos, chief executive of the Meadowlands Regional Chamber, and others stressed that the Vision Plan was preliminary. He added that the chamber had not to date sought approvals of the plan from the Giants, Jets, American Dream Meadowlands developer Triple Five, and other Meadowlands Sports Complex stakeholders, according to The Record.

“This is not a plan to create a district that competes with Atlantic City. Since the Meadowlands Sports Complex was built, the population in the surrounding region has grown, but does not have anything compelling enough to keep them here when they are spending their discretionary income,” said Kirkos. “Developing the Meadowlands Sports Complex into a destination will keep these dollars in New Jersey and increase the economic impact of the entire region.”

The Chamber of Commerce estimates the Vision Plan as written would create approximately 50,000 jobs.

A people mover estimated to cost $65 million would transport visitors to different destinations in the sports complex. The hotel and casino space is estimated to cost $1.1 billion and the convention center would run $175 million. The plan also calls for new parking decks at a cost of $400 million and the establishment of a racino at the Meadowlands Racetrack. Public and private funding would finance construction costs. See story in The Record.