An elevator load bearing assembly includes a plurality of cords within a jacket. The jacket has a plurality of grooves spaced along the length of the belt assembly. In one example, the grooves are separated by varying spacings along the length of the belt. In another example, at least a portion of each groove is aligned at an oblique angle relative to the longitudinal axis of the belt. Another example includes a combination of the different spacings and the non-perpendicular alignment.