Jonesboro panel OKs tax rebate for 7-story hotel, 40,000-square-foot convention center

The Jonesboro Advertising and Promotions Commission approved a proposal Friday that would provide a maximum of $2.5 million in incentives to O’Reilly Hospitality Management of Springfield, Mo., to build a seven-story, 203-room Embassy Suites hotel and 40,000-square-foot convention center on property owned by Arkansas State University.

But O’Reilly won’t receive any of that money until the hotel is generating revenue, said Jerry Morgan, chairman of the commission.

Morgan said the commission voted 5-0 to provide O’Reilly with a rebate of the city’s 3 percent hotel tax for 10 years with a cap of $2.5 million.

Read Saturday's Arkansas Democrat-Gazette for full details.

Upcoming Events