The long-awaited groundbreaking of Hollywood's Jimmy Buffet Margaritaville island paradise-themed resort takes place on the beach.
And, city spokeswoman Raelin Storey says they're looking forward to the economic benefits.
Storey says the economic impact begins right away with the hiring of about 500 people related to the construction of the project.
She says, once the project is completed, it will employ 300 people in permanent positions.
The ripple effect of redevelopment in the area is projected to create about 3,000 jobs.
The project is also expected to bring millions into the city coffers that will be used for neighborhood enhancements.
Margaritaville is expected to open in 2015.
(Photo Starwood Capital, Margaritaville Beach Resort)