A new hotel could mean a big boost to business and more jobs in Russell County, Virginia.
The countdown to construction is officially over. A pile of dirt will soon be the foundation of a brand new Holiday Inn Express, which means new jobs in Russell County. "Construction will be 100-plus jobs, then [probably 15] full-time jobs after it opens," said Harry Rutherford, Chairman for the Russell County Industrial Development Authority.
County leaders hope this isn't the only groundbreaking that's going to happen. "Hopefully we're going to see restaurants and other commercial establishments blossom around this hotel complex," said Jon Bowerbank, Chairman of the Virginia Board of Supervisors.
With an unemployment rate of nearly 8 percent in Russell County, there's the hope residents will go back to work in empty buildings. "The IEC/Lear building which is right next door to us here is an extremely marketable building. We have shown it to several people we've got some people actually looking at it," added Rutherford.
News 5 learned it's been difficult battling tax rebates and other incentives to draw in industry. That's why this project could cause a snowball effect for the local economy. "You never know what's going to key an industry leader to say 'hey, I like this area. Let's go look at it,'" said Rutherford.
The new hotel is a $5 million project with hopes that it's worth every penny.
News 5 learned taxpayers won't be spending any money on construction of this new hotel. It's being built with loan money from Virginia Small Business Finance Authority and the Virginia Coalfield Economic Development Authority.