COLUMBUS, Ohio -- The possibility of a new hotel has hit downtown Columbus.
Experience Columbus said the hotel being built for the Greater Columbus Convention Center is critical to Columbus' economy, NBC 4's Lauren Diedrich reported.
An announcement made Thursday afternoon detailed plans for a $160 million hotel project across from the convention center on North High Street.
The new hotel will add 500 rooms to compliment the already-existing Hyatt Regency.
"This is about jobs. This is about investing now for jobs in the future," said Columbus Mayor Michael Coleman.
Coleman said the project will bring approximately 550 construction jobs to the area.
Experience Columbus leaders said that 90 percent of tradeshows and conventions that turn down the city for a show said it is because there isn't enough hotel space.
According to Experience Columbus, downtown tourism brings in $2 billion each year with $223 million going to local governments in tax revenue.
According to a study by the group, Franklin County residents would have to pay $2,000 more each year in taxes if that money was missing.
Construction is scheduled to begin in the middle of 2010, with a completion date of December 2012 -- coinciding with the 200th anniversary of Columbus.
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