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Comic-Con will stay in San Diego through 2016, Mayor Jerry Sanders announced on Monday.
The 5-day convention, known for bringing A-list celebrities and visitors from across the globe, is a major event for the entertainment industry.
“Comic-Con has been a tremendous success,” said Sanders. “It is an enormous source of pride for San Diego.”
Thousands of people, often in costume, descend on downtown San Diego for the pop culture-centric convention – and bring their money with them.
“It’s been an enormous source of revenue for San Diego,” said Sanders.
The entertainment convention is arguably San Diego’s largest multi-day event, and generates a lot of business for local shops, hotels and restaurants every summer.
“It pumps nearly $180 million into the local economy and produces almost $3 million in tax revenue that we can use for city services,” said Sanders.
Comic-Con drew more than 130,000 people to the 2012 event, causing the convention center and many nearby hotels to reach capacity.
San Diego leaders will revisit the contract with Comic-Con officials after the 2016 convention.