Panel approves incentives for projects in Paducah, Loretto
FRANKFORT, Ky. (AP) – Tourism projects in Paducah and Loretto have won approval for state financial incentives.
The Tourism, Arts and Heritage Cabinet said in a news release that the Tourism Development Finance Authority approved the incentives on Wednesday.
The projects include a hotel development in downtown Paducah and a distillery tour center in Loretto.
The 124-room Paducah hotel project will be eligible for up to $4.5 million in incentives. The cabinet said the $19 million project is expected to be a Holiday Inn.
The Loretto project, a facility for Maker’s Mark Distillery to showcase its Maker’s 46 product, will be eligible for up to $1 million.
The incentives are in the form of a rebate based on sales tax generated by the attraction over a 10-year period.
Copyright 2015 The Associated Press.