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After several years of being stuck in neutral, Michael Jackson’s hometown of Gary, Indiana is finally moving forward with plans to build a $300 million museum and arts center dedicated to the King of Pop.

The late singer last visited Gary in 2003 to discuss the project, but no progress was made on it before his death last year, the Associated Pres reports. His father, Joe Jackson, said Wednesday that he was “just carrying out his legacy” by getting involved.

“This is a happy day for me because this is something that my family and Michael have always wanted,” Joe Jackson said in a news conference along with Gary officials. “We’re bringing something back.”

Gary Mayor Rudy Clay said the project would create thousands of jobs and, when finished, was expected to bring at least 750,000 visitors a year to the city. He estimated it would generate $100 million to $150 million in income for the community each year.

“This project will be the magnet that will draw people from all over the world,” Clay said.

The money to finance the Jackson Family Museum and Hotel and the Michael Jackson Performing Arts and Cultural Center and Theaters will come from investors and donations, Clay said.