Includes hotel development and distillery visitor center
FRANKFORT, Ky. (June 27, 2014) — The Kentucky Tourism Development Finance Authority today approved incentives for two projects — a hotel development in Paducah and a distillery visitor center in Loretto.
Paducah Convention Hotel won approval for a 121-room downtown hotel that will be built next to the Paducah Expo Center and Carroll Convention Center. The $18 million project is expected to be a Hilton Garden Inn.
Maker’s Mark Distillery received approval for a new $2.03 million welcome center, which will also feature food services and expanded parking.
To be approved projects needed to be open more than 100 days a year, attract at least 25 percent of visitors from outside the state by its fourth year of operation and have a positive net economic impact on the Kentucky economy.
The Paducah Convention Hotel will be eligible for up to $4.5 million in incentives and Maker’s Mark will be eligible for up to $506,000. The incentives are in the form of a rebate based on sales tax generated by the tourism attraction over a 10-year period.