THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Monday, November 14, 1994 TAG: 9411110011
SECTION: FRONT PAGE: A6 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 34 lines
The Virginia Racing Commission decision to let the horses run in New Kent county means that Hampton Roads has again been denied a chance for valuable economic development. It points out the need for jobs, tax revenues and tourist benefits of riverboat gaming.
A recent study showed riverboat gaming in Virginia would annually generate $123 million in state and local tax revenues; $81 million would go to the state and $42 million would be divided among the riverboat localities. The boats would draw more than 1 million out-of-state visitors to spend money in our localities. Construction of boats and their facilities would cost more than $200 million, boosting services necessary for this development.
However, the most important benefit is job creation. Riverboat gaming would result in 24,000 new directly and indirectly related jobs. Our shipbuilding industry would be able to enter the fastest-growing maritime industry in America - construction of riverboats. more than $100 million to develop and refit Virginia's new riverboats would help offset recent defense cutbacks and resulting jobs lost.
Let's take a closer look at this exciting new industry and see what an extraordinary opportunity riverboat gaming offers this region.
ROBERT W. SHAW
Norfolk, Nov. 2, 1994 by CNB