The Rosewood Miramar Beach Montecito resort is expected to bring in long awaited tourism tax dollars for the County of Santa Barbara.
It’s been estimated the county has missed out on about $2-million a year since it closed in 2000.
Local leaders say when it reopens in 2018 it will likely generate sales and bed taxes of about $3-million annually.
It will be up to economic analysts to determine what the impact will be regionally with visitors going to Santa Barbara, Goleta, the Santa Ynez Valley, wineries, the Funk Zone and local dining areas.
Groundbreaking on the 161 room Miramar took place Monday.
Developer Rick Caruso and his staff were on hand along with Rosewood Hotel executives and community supporters.