LivAway Suites® Announces Expansion into New York, Leveraging $1.2 Trillion Infrastructure Bill and CHIPS Act
SALT LAKE CITY, Feb. 13, 2024 /PRNewswire/ -- LivAway Suites® announced today they have broken ground on their newest location in Dewitt, N.Y. near Syracuse Hancock International Airport. Since launching last spring, LivAway Suites now has five locations under construction and expects to break ground on 10 additional properties in 2024. LivAway Suites is on track to open its first locations this coming summer.
- Since launching last spring, LivAway Suites now has five locations under construction and expects to break ground on 10 additional properties in 2024.
- The new LivAway Suites in Dewitt, N.Y. is expected to reap the benefits of a stimulated local and regional economy due to two recent national spending bills: The $1.2 trillion Infrastructure Investment and Jobs Act: and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act .
- "The Infrastructure and CHIPS Acts are expected to dramatically increase the demand for economy extended stay hotels nationally over the coming years," said Mike Nielson, Chief Executive Officer of LivAway Suites.
- However, that trend has rebounded over the past two years since the Infrastructure Investment and Jobs Act was passed.