Wheeling, West Virginia – Governor Patrick Morrisey, City Officials, and local entrepreneur Barry Allen announced the design and timeline of the new downtown waterfront hotel Tuesday morning at WesBanco Arena.
“We are so pleased to welcome this project to our city and our waterfront,” said Denny Magruder, Mayor of the City of Wheeling. “Barry Allen and his team have worked extremely hard to bring this vision to life.”
“I thank our local and state partners for all their help and assistance in pulling this project together,” stated Barry Allen local entrepreneur. “This has been a very intentional, well-thought-out and collaborated strategic process that could not have happened without everyone.”
“Our firm, Southern Hospitality Group, is excited to be a part of this project,” commented Andrew Cajka, President Southern Hospitality Group. “We are looking forward to transforming the Wheeling waterfront.”
Highlights of the economic impact analysis are:
· It is estimated that the construction of the facility will support nearly $88 million in total spending, 465 jobs, $28 million in employee compensation, and $2.8 million in tax revenue in West Virginia during a one-year construction period.
· Once the hotel reaches full maturity, we estimate that hotel operations will support over $12 million in total spending, 87 jobs, nearly $4 million in employee compensation, and $1.3 million in tax revenue in West Virginia annually.
· When the restaurant reaches full maturity, we estimate that restaurant operations will support over $9 million in total spending, 88 jobs, nearly $2.9 million in employee compensation, and $642 thousand in tax revenue in West Virginia annually.
· Conservatively, it is estimated that retail operations will support $1.3 million in total spending, 12 jobs, $479 thousand in employee compensation, and $202 thousand in tax revenue in West Virginia annually.
· In total, once the hotel and restaurant reach full maturity, it is estimated that operations, when in full development will support nearly $23 million in total spending, 187 jobs, $7.2 million in employee compensation, and $2.1 million in tax revenue in West Virginia annually.
