Paducah riverfront hotel approved for state tourism incentives
A hotel to be built on the Paducah riverfront was one of two projects approved by the Kentucky Tourism Development Finance Authority Wednesday, according to the Kentucky Tourism, Arts and Heritage Cabinet.
The cabinet said the hotel project, a Holiday Inn being built by Lingate, is eligible for up to $4.5 million in state incentives. The incentives are a rebate based on sales tax generated over a 10-year period. Applications for incentives are considered under the Kentucky Tourism Development Act, which allows eligible tourism attractions a rebate of sales tax up to 25 percent of project capital costs.
The other project approved for incentives is the Maker’s Mark Distillery in Loretto, Kentucky. The cabinet said it is eligible for up to $1 million.