(NECN) - It may be hard to believe something 1.7 million square feet is too small, but the Boston Convention and Exhibition Center does not seem to be big enough to generate the big business and big bucks city officials want.

Boston has hosted more than 2,000 conventions, but that's only part of the story. Promoters say Boston has lost more than 100 events because of a lack of hotel rooms.

Support is building for a $1 billion expansion to the BCEC. Convention officials say it won't require any new fees or taxes.

James Rooney, Executive Director of the Massachusetts Convention Center Authority, joins Peter Howe on CEO Corner to explain the plans.

Why is an expansion needed and what is the city missing out on by not having more convention space and more hotel rooms? Rooney explains.

"Convention centers generally measure themselves in terms of how big the exhibit space is," explained Rooney. "By convention center standards, it's in the big category, but not quite as big as some of our competitors.