Gov. Andrew Cuomo on Tuesday signed the Upstate NY Gaming Economic Development Act, a new law that is subject to a voter referendum in November.
If the voters approve, the legislation would establish four casinos, or what Cuomo is referring to as “destination-gaming resorts,” in upstate New York.
The law is intended to boost tourism and economic development in communities across the region, the governor’s office said.
(Sponsored)
Ask the Expert: How Registered Apprenticeship Can Solve Employers’ Workforce Challenges
In today’s competitive labor market, employers face growing challenges: finding skilled workers, retaining top talent, and preparing for rapid technological change. Traditional hiring methods alone aren’t keeping up. That’s where
Assessing the Likely Tax Impacts of the 2024 Election
President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified
Under the casino-gaming plan outlined in the new law, all localities in the state will share in increased education aid, or lower property taxes, no matter where the casinos are located, according to the governor’s office.
The focus has been to bring jobs and boost local economies in upstate New York, where “decades of decline” have taken their toll, Cuomo said in a news release.
“This new law will bring the state one step closer to establishing world-class destination gaming resorts that will attract tourists to upstate New York and support thousands of good paying jobs as well as new revenue for local businesses. For too many years, gaming revenue has left New York for our neighboring states. Today, we are putting New York state in a position to have those dollars spent here in our communities, which will benefit our local economies and tourism industries, as well as support education and property tax relief,” Cuomo said.
Contact Reinhardt at ereinhardt@cnybj.com
