The equivalent of ninety new jobs and 9.3 million dollars annually are expected to come to downtown Paducah after the proposed upscale hotel opens in 2015 according to Paducah Riverfront Development Authority Executive Director Steve Doolittle.
The estimate of ninety new jobs is based on a third party feasibility analysis that expects half of those jobs to come directly from the hotel.
"It's not just the hotel, it's the activity the will generate around it," Doolittle said. "A restaurant in downtown Paducah that told me that when the Executive Inn closed they saw a decline in their business to the tune of $80,000."
The city's contract requires the developers to invest a minimum 17.5 million dollars in construction. The developers selected Paducah-based A&K Construction is as the contractor.
Doolittle expects the hotel franchise and floor plans to be announced in one to two months.