Chicago Mayor Rahm Emanuel and Gov. Pat Quinn announced Tuesday that a new 1,200-room hotel will be built near McCormick Place.

The agency that operates McCormick Place is acquiring a site adjacent to the convention center to build the new hotel.

The facility will allow McCormick Place to add about 15 new mid-market events each year, generating about 80,000 attendees.

The hotel will be located between Michigan and Indiana, along the south side of Cermak.

It’s expected to create nearly 2,500 construction jobs and 500 permanent local jobs.