Advertisement
Canada markets open in 8 hours 46 minutes
  • S&P/TSX

    22,468.16
    +2.79 (+0.01%)
     
  • S&P 500

    5,321.41
    +13.28 (+0.25%)
     
  • DOW

    39,872.99
    +66.22 (+0.17%)
     
  • CAD/USD

    0.7329
    -0.0006 (-0.09%)
     
  • CRUDE OIL

    79.06
    -0.20 (-0.25%)
     
  • Bitcoin CAD

    94,795.73
    -2,075.91 (-2.14%)
     
  • CMC Crypto 200

    1,472.15
    -16.39 (-1.10%)
     
  • GOLD FUTURES

    2,418.70
    -7.20 (-0.30%)
     
  • RUSSELL 2000

    2,098.36
    -4.14 (-0.20%)
     
  • 10-Yr Bond

    4.4140
    -0.0230 (-0.52%)
     
  • NASDAQ futures

    18,810.75
    +11.50 (+0.06%)
     
  • VOLATILITY

    11.86
    -0.29 (-2.39%)
     
  • FTSE

    8,416.45
    -7.75 (-0.09%)
     
  • NIKKEI 225

    38,731.92
    -215.01 (-0.55%)
     
  • CAD/EUR

    0.6750
    -0.0004 (-0.06%)
     

Fort Worth’s convention center needs an update. The city says this tax will finish the job

Amanda McCoy/amccoy@star-telegram.com

Hotel rooms might get more expensive in Fort Worth, but leaders in the city’s tourism, hospitality and business communities say it’s for a good cause.

Proposition A, which is on the ballot May 4, would increase hotel taxes by 2%. This is expected to generate an additional $10 million in revenue for the city, which it plans to use to fund the roughly $700 million expansion of the Fort Worth Convention Center. Early voting starts April 22.

Supporters of the measure have formed the group “Together Fort Worth” and have emphasized the tax will only apply to visitors to Fort Worth who use hotel rooms or registered short-term rental like those listed on Airbnb.

“Those visitors will eventually go home, but their money stays here,” said Michael Crum, director of the city’s public events department, speaking at a community meeting in August 2023.

ADVERTISEMENT

Supporters of the measure have also pointed to the effects for businesses serving the additional visitors.

Fort Worth’s tourism economy generated $3 billion and supported 30,000 jobs in 2022, according to statistics from Visit Fort Worth. The group calculated that the extra revenue added $125 million to the coffers of local taxing agencies, and saved the average Fort Worth property owner about $709 in taxes.

The city started the first phase in August 2023, which will make updates to the entrances, loading docks, and kitchens on the Commerce Street side of the building before eventually straightening the roadway. That phase is being funded largely with money from the American Rescue Plan Act.

The second phase will expand the building’s capacity, which is expected to involve demolishing the “Flying Saucer” arena.