Proposed casino in Indiana to create new jobs, generate tax revenue

Casinos across the United States generate tax revenue that lawmakers often use for different community or education projects. One such initiative in Indiana is estimated to deliver millions in tax revenue while creating thousands of new permanent and temporary jobs.

Full House Resorts plans to transfer a casino license

The company that plans to develop the hotel and casino resort, Full House Resorts Inc., currently operates similar venues across the country, including in states such as Nevada, Colorado, Illinois and Mississippi.

Its efforts in Indiana are focused on transferring a casino license from the Rising Star Casino in the southeastern part of the state to New Haven.

In order to prove that the project would benefit Allen County, the county where New Haven is located, Full House Resorts recently paid for a study that evaluated the economic impact of the project.

The study was compiled by CBRE, the international consulting company, and highlighted the benefits of the new project.

Notably, the project has a price tag of $500 million and per CBRE's study, will deliver millions of tax revenue and annual salaries and wagers to the region.

The casino will create temporary and permanent jobs, bring millions in tax revenue

Notably, the construction phases of the project will create nearly 3,000 temporary jobs.

The study reveals that an estimated 2,760 workers will be employed during phase one of the project, with the same estimate expected during phase two.

This means that the construction phases of the project alone are expected to create more than 5,500 new jobs.

Focusing on wages, the two phases of the proposed New Haven casino project are expected to deliver $162.3m per phase or $324.6m in total wages.

On the other hand, the total economic output of the project during the building phases is expected to surpass $1.1bn.

Besides wages and salaries, the proposed New Haven casino is expected to generate nearly $200m in taxes during phases one and two of the project.

The proceeds from taxes during phase one of the project are expected to reach $82.8m, while the tax generated during phase two is expected to reach $109.5m.

A breakdown provided by CBRE suggests that the proceeds during the first phase of the casino project for Indiana, Allen County and New Haven are expected to be $53.5m, $0.9m and $18.3m respectively.

During phase two, the tax revenue is expected to continue growing, hitting $67.5m, $1.8m and $24.3m for Indiana, Allen County and New Haven respectively.

The new study reveals that upon completion of phases one and two of the project, the "operation output is estimated at $569.7m with 2,890 jobs created."

The initial phase of the New Haven casino project is expected to create more than 2,400 new permanent jobs with the remaining being created upon completion of phase two.

The proposed casino in New Haven is expected to boost tourism and revitalize the area.

It's important to note that lawmakers and relevant regulatory bodies must approve the project first prior to the commencement of the building works. Discussions on the matter continue.

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