Gaming Solution a Winning Strategy for Illinois
Friday, Apr 27, 2012
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Can we raise desperately needed state revenue and create more private sector jobs – all without raising taxes? A new study says – Yes!
A gaming solution under SB 1849 will have a $2.16 billion net impact on the Illinois economy, create nearly 20,500 new jobs and a generate $200 million in increased annual state revenue.
The legislation will significantly boost our state finances and translate into the largest jobs creation program in modern history, according to a study by the respected Spectrum Gaming Group commissioned by the Illinois Revenue and Jobs Alliance (IRJA).
The legislation would allow for a Chicago-based casino, four additional riverboat casinos throughout the state, slot machines at existing racetracks and more slots at existing casinos. Economic benefits include:
• $3.49 billion more in economic output (gross impact on Illinois economy)
• $2.16 billion more in gross state product (net impact on Illinois economy)
• $1.5 billion in personal income
• Creation of $1.2 billion in new construction expenditures that would generate-
o 4,583 construction jobs
o $473 million in wages and benefits