Around the Miami Valley
Thu December 12, 2013
New Racino Brings Cash To Local Government
About 20,000 people are expected to descend on Ohio’s newest racino Thursday. The new gaming facility in Turtlecreek Township is expected to be a boon to the local economy.
Warren County Economic Development Director, Martin Russell, says Miami Valley Gaming’s new $175 million dollar racino means big revenue for the county.
“I think that when you talk about jobs, you talk about capital investment, you talk about bringing in more people inside of Warren County...this is going to really broaden our economic base," said Russell.
Russell added that the 700 new jobs created by the racino adds up to about $17 million dollars in taxable income, and he also expects a big increase in sales taxes. Also, the new racino is on land where a state prison used to be located, and Russell says that means a couple million dollars a year in property taxes.
There’s one last source of money for the county - $85,000 dollars from the Ohio Department of Mental Health and Addiction Services for the prevention and treatment of gambling addiction.