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Economy

State Help for New Hotel in Muscatine

The state of Iowa wants to help build a new hotel in downtown Muscatine. On Friday, the board of the Iowa Economic Development Authority approved up to 10 million dollars for the proposed Stanley Hotel and Conference Center.

Greg Jenkins, president of the Great Muscatine Chamber of Commerce and Industry, says the 41 million dollar project will be built on the city's riverfront.
It's similar to a tax increment financing district, only it rebates sales taxes instead of property taxes.

Jenkins says construction could start late this summer, and take up to 2 years. And he hopes it will inspire additional development in downtown Muscatine.