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Newark hotel granted $2M in tax breaks

  • / Updated:
  • Staff Report 

The Wayne County Industrial Development Agency (IDA) approved $2 million in tax incentives for a new 72-room Microtel Inn and Suites by Wyndham on East Union Street.

This package, approved last week, includes no property taxes for the first five years and extends to a 15-year payment-in-lieu-of-taxes (PILOT) schedule, diverging from the typical 10-year offer.

Site work for the hotel at 434 E. Union St. has begun, with plans to open in May 2025.

Indus Hospitality Group, the developer, appreciates the IDA’s support amid rising interest rates and construction costs. Indus is also building a Taco Bell in Newark and has developed multiple hotels and restaurants in the region.