The Answer To Economic Stability
For many poverty-stricken cities in the tri-state area, permission to build and operate a casino seems like the perfect solution for economic redemption. The construction of a casino would bring about temporary employment, and the operation would result in thousands of permanent jobs.
Not only would revenue stream in to the casino itself, local businesses would in turn feel the positive effects of outside visitors to the area in towns where tourism has never had much of a place. Theoretically, newly employed residents would also have more disposable income to spend, resulting in a rapid economic boom, which would settle into stability for generations to come.
Competing To Prove Their Need
The issue is the increasingly heated competition in many neighboring areas to host a casino. The Hudson Valley area, the Catskills, and areas farther upstate, are working to draw attention to their economic plights in hopes that a casino project will be their salvation. However, the potential for oversaturation or competing markets in areas that are too close in proximity is a factor keeping casino developers from breaking ground in many of these areas. These New York regions are competing with New Jersey as well, where casinos are currently in a state of transition.
Cries for casino rights are the loudest in central New York, while the Niagara Falls area is saturated with casinos on both the US and Canadian sides of the border, and the towns surrounding New York City and New Jersey are overshadowed by the metropolis.
In central New York State, however, cities and towns seem to be competing to prove they are the most impoverished, and therefore the most worthy, of a new casino. Last year, Governor Cuomo signed the Upstate NY Gaming Economic Development Act, which stipulates that four casino projects will be approved for construction in areas of upstate New York. According to the act, the host cities will be chosen based on the economic impact the casino will pose to the surrounding area, reaffirming the competitive cries from upstate cities struggling economically. The Act also states that tax revenues from the casino projects will be split between the county and municipality, offering education and property tax aid to the area.
Casinos: Not the Only Cure
The potential economic benefits of new casino operations in these unstable areas cannot be ignored, but a casino is not the only path to success. Creating smaller changes to each respective city would be a slower process, but would create long-term stability. The projects, however, are the most seemingly rapid way to receive education aid for cities in immediate need.
What’s most promising about the situation is that these areas in need of change are actively looking for a solution. Whether or not they “win” the option of a casino, it can be fairly expected that most of these regions will seek alternate ways to build their economy and increase livability in their respective areas.