Jackson Convention Center revenues down - MSNewsNow.com - Jackson, MS

Jackson Convention Center revenues down

The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space. Source: WLBT The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space. Source: WLBT
The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space. Source: WLBT The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space. Source: WLBT
The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space. Source: WLBT The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space. Source: WLBT
JACKSON, MS (Mississippi News Now) -

The Jackson Convention Complex opened in 2009. It was the centerpiece for attracting big name conventions and other events to the capitol city.    

Now Jackson city officials are saying the city may be exposed financially because booking is slightly down.

The Jackson Contention Center is massive, boasting 330,000 square feet of flexible exhibit, ballroom, and meeting space

It carries a multi-million dollar bond indebtedness.

"The city sold $65 million in bonds that were pledged for the construction and maintenance of that convention center," said Director of Administration Charles Hatcher. 

To help pay the debt, the city passed and pledged a specialty tax on hotels and restaurants.

"The money coming in has gone down slightly," said Hatcher. "But it's so far been enough to pay back the bond holders. so the city has not been out from the bond that they pledged so far."

Booked events are down slightly according to Hatcher. 

Hatcher has been tracking the numbers. If revenue falls, Jacksonians would have to pick up the tab.

"If the revenue collected on those taxes aren't sufficient to cover our debt services, the amount we have to pay bond holders, then the city taxpayers would have to come up with the difference," explained Hatcher.

The city is confident that city revenues will be sufficient to pay the debt service.

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