DeWitt County's economic development leader is restating and standing behind the County's need for additional hotel space.

Last month, the DeWitt County Development Council formally requested $30,000 for a hotel feasibility study for Clinton and Farmer City. DCDC CEO Curt Homann explains that while investor groups have already expressed interest in developing new hotels in the area, a formal feasibility study is necessary for potential owners to secure financing from a lender.

The studies will provide the hard data that lenders and franchises need to determine if Clinton and Farmer City can support a new hotel. Currently, some of the county’s largest manufacturers are hosting their visitors and meetings in nearby Bloomington, and Homann points out that takes that revenue out of the local economy.

The studies will not only determine if a hotel is viable, but also the number of rooms each market could sustain and the expected return on investment for developers. Early estimates from Homann suggest a new hotel in Farmer City would be roughly a $9 million investment, while a similar project in Clinton would cost between $12 and $15 million.

The studies will also address potential ripple effects for other businesses in the community. Homann notes new hotels are often catalysts for other commercial developments, such as new sit-down restaurants and gas stations.

The Core Distinction Group will begin the feasibility studies within the next several days. The final report, which is expected to be delivered by mid-June, will include a full financial breakdown to guide potential investors and the cities through the development process.