On May 1, 1931, President Herbert Hoover inaugurated the Empire State Building by pressing a button in Washington, D.C., which caused the building's lights to illuminate from nearly 450 kilometers away. The construction of what was then the world's tallest building began on March 17, 1930, and was completed in about 14 months. Designed by architects Shreve, Lamb & Harmon and built by Starrett Bros. & Eken, the Empire State Building stands at 102 floors. The project was driven by a competition between Walter Chrysler and John Jakob Raskob, who aimed to construct the tallest structure. The Chrysler Building had previously held the title in 1930, standing at 1,046 feet (319 meters). The Empire State Building ultimately reached 1,250 feet (381 meters) to the top of its roof and 1,454 feet (443 meters) to the top of its lightning rod. The inauguration took place in two locations. Alfred E. Smith, former governor of New York, cut the ribbon in front of the building on Fifth Avenue at 11:15 a.m., while President Hoover activated the lights remotely in Washington at 11:30 a.m. The event was attended by notable figures such as Governor Franklin D. Roosevelt and Mayor Jimmy Walker. The method used to transmit the signal to light the building remains unclear, with some accounts suggesting the use of a telegraph, others a radio. The opening of the Empire State Building was followed by a difficult period. Only 25 percent of the offices were rented a year after its opening, leading to the nickname "Empty State Building." The building did not generate profits until the early 1950s, relying on revenue from its observation decks and antennas for maintenance. NBC rented offices on the 85th floor, which allowed it to broadcast programs nationwide. The Empire State Building remained the tallest building in the world for nearly 40 years until the World Trade Center surpassed it in 1972. Today, the Empire State Building attracts about 4 million visitors annually to its observation decks on the 86th and 102nd floors. An additional indoor space was added on the 80th floor in 2019, further enhancing the building's appeal as a major tourist attraction and symbol of New York City.