State and city leaders said the Boston Convention and Exhibition Center needs a new nearby hotel and they want taxpayers to foot a portion of the estimated $700 million bill.

The Boston Globe reports that officials studying how to dramatically expand the convention center said a 1,000-room hotel is necessary to attract the biggest events, and that building it without millions of dollars in subsidies and taxpayer-supported loans is next to impossible.

Options are not yet finalized, but the project could involve a combination of tax breaks, public funds for road work and other upgrades, and hundreds of millions of dollars in debt that would be partly or entirely backed by taxpayers.

The goal of the expansion is to make Boston one of the top five convention destinations in the nation. (AP)