Newport_Resort_Casino

Newport Resort Casino Proposed Newport Resort Casino Introduction This paper will conduct an objective economic and fiscal impact analysis of a proposed resort casino to be located Newport, Rhode Island. The purpose is to estimate the impact of the casino’s operations on local and statewide economies. The proposed casino’s economic activity is quantified in terms of gross gaming revenues (output), employment and income. In addition to its own operations, a casino also generates “spin off” or multiplier effects on other companies and their employees. Context Newport Rhode Island is a town of 26,745 located about 75 miles of Providence, Rhode Island. The town ranks 13th in population between Rhode Island’s 39 cities and towns, and is centrally located between the major Eastern seaboard hubs of New York and Boston. Newport was incorporated in 1784. The total land area of Newport consists of 11 square miles (7.7 square miles of land area, and 3.3 square miles of inland water area). Newport was one of the five most important settlements in the 13 colonies. It shared this distinction with Boston, New York, Philadelphia and Charlestown. Newport was the birthplace of the Navy, and with private and naval shipping combined, added to the cosmopolitan casino, rhode, island, tax, state, new, income, newport, gaming, industry, employees, costs, unemployment, labor, impact, 2004, survey, restaurant, resort, rates, market, force, employment, total, rate, lybrand, generated, spending, property, march, local, economy, coopers, construction, business