Newport Resort Casino

22 Pages 5513 Words

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 atmosphere of the community. The finest craftsman in furniture and silver worked in RI before the revolution. Newport combines three communities in one, the settled community, the Navy, and the summer colony.

The principal highways in or near Rhode Island are Interstates 95 and 295, and State Routes 117, 33, and 3. T. F. Greens airport is located in adjacent Warwick, Rhode Island. As one of New England’s fasting growing airport, T.F. green is fulfilling its role as the regional airport system’s short and medium haul facility for southern New England. In 2003, there were 2,589,702 passenger enplanements at the airport. To handle it’s increasing number of passengers and aircraft,...