The Town of Hyde Park could see millions of dollars and hundreds of jobs as a result of a plan for a tourism development project.

The Poughkeepsie Journal reports that the $100 million project has the potential to not only provide amenities like luxury hotels, but could lead to a second phase to the project that would bump the total to $500 million and include new housing developments.

Currently, the plan calls for multiple hotels, a restaurant, a spa, and retail stores for the parcel of land situated across from the Culinary Institute of America on the East side of Route 9. It hopes to appeal to those visiting the area seeking a 4- or 5-star hotel experience.

An economic impact study they commissioned estimated 369 permanent jobs, with pay averaging $16.22 an hour, would result in the hotels, restaurant, spas, conference center and retail shops.  About 550 construction jobs would be created in building the first phase.

The Hotel & Leisure Advisors study also found first-year revenue could bring in as much as $29.8 million in visitor spending and an overall economic impact of $47.7 million, according to the Poughkeepsie Journal. The first phase could also bring in as much as $11.8 million in tax dollars.

Needless to say, this is pretty huge news for Hyde Park and the Hudson Valley as a whole, especially if it provides as many jobs as it seems to.