PALMETTO, Fla. (WWSB) - Site work has begun for the new Sheraton Hotel in Palmetto.
The hotel is being built right next to the Bradenton Area Convention Center. It will be an eight story, full-service hotel with over 250 rooms. It will have a restaurant and a rooftop bar.
Executive Director of the Bradenton Area Convention and Visitors Bureau, Elliott Falcione, said the new hotel will create around 400 jobs, both directly and indirectly. He said the hotel will have about 50 employees and the convention center will be adding a few new positions in relationship to the hotel.
The new hotel will serve as a headquarter hotel for conferences and conventions at the Bradenton Area Convention Center. Falcione said with a full-service hotel next door, the convention center will be more appealing and will help boost the economy.
"It's going to bring a conservative of about $20 Million additional dollars to the area, just from a meeting stand point. Not including the revenues that will be generated by the hotel. And it will create a compression for the other hotels, and overflow business into the urban core and even out in to the Ellenton exit," Falcione said.
It's estimated the hotel will cost $60 Million to build.
Florida Governor Ron DeSantis just awarded The City of Palmetto a $1.5 Million grant to go towards the Sheraton. The grant is part of the Small Cities Community Development Block Grant Program, which aims to help attract new business to areas. The money will be used to help build public infrastructure for the hotel including street, water, sewer, and storm water improvements.
The hotel is set to be complete by late 2021.