Starke County launches crowdfunding effort for hotel project
To boost travel accommodations in the Starke County city of Knox, economic development officials are using a relatively new investment tool in hotel development. The Starke County Economic Development Foundation has launched a crowdfunding campaign to help bring a midscale, midsized hotel to the city of 3,700.
SCEDF Executive Director Lisa Dan says there are no franchise hotels in Starke County. Further, there are no open hotels on U.S. 35 between La Porte and Logansport.
Dan says the lack of hotel rooms limits her ability to attract new business and makes it difficult for current businesses to host out-of-town visitors.
“The Starke County Airport can accommodate corporate jets, but business travelers have to stay outside of the county,” Dan said. “This additional travel time cuts into productivity for our industries.”
Dan says an economic study revealed several national hotel brands expressed interest in developing a 50-60 room hotel in Knox, but they would first like to see local investment.
“We continue to connect them with potential investors. We have heard from several community-minded people who want to see this project succeed but aren’t able to make six-figure investments,” said Dan. “Our board agreed we should launch a crowdfunding effort to encourage these types of donors to participate.”
SCEDF says it established a $200,000 crowdfunding goal for the hotel project.
Click here to learn more.