NEW YORK GAMING ASSOCIATION RELEASES STATEWIDE ECONOMIC IMPACT REPORT
NYGA Facilities Spurred $3.3 Billion In Economic Activity For New York
Record $905 Million Generated For Education, Brings 12-Year Total To $7.5 Billion
Supported An All-Time High Of Nearly 29,000 Quality Jobs Throughout New York
Report Link: https://newyorkgaming.org/wp-content/uploads/2015/01/KSKD_NYGA_AnnualReport2016_v12_fin_web.pdf
ALBANY, NY – The New York Gaming Association (NYGA) today released their Annual Statewide Economic Impact Report detailing the economic activity, education funding and quality jobs and local tax revenue generated by NYGA throughout the 2016 calendar year.
With nine member facilities spanning every region of the state, NYGA once again demonstrated its role as an economic contributor to state and local government. The NYGA member facilities generated $3.3 billion in economic activity, including and a record high $905 million in education funding to support New York schools, bringing their total contribution to state education aid to a $7.5 billion over the past 12 years. In addition to supporting roughly 29,000 jobs, including 5,300 direct employees, NYGA spurred $87 million in much needed revenue to local governments, and generated over $221 million in support of New York’s Standardbred and Thoroughbred racing industries.
“Every year, the contribution of our member facilities can be seen and felt across local communities. From generating a record high $905 million for education funding, to supporting billions in economic activity and tens of thousands of good-paying jobs, we are proud to be a partner in progress for New York State. Whether it’s generating tax revenue for local communities, bringing much needed funding into our schools, or helping families put food on the table by supporting job growth, NYGA continues to be a winning bet for New York State,” said Michael Wilton, Executive Director of the New York Gaming Association.
NYGA facilities have been a strong source of economic activity on the state and local levels, providing critical funding for our schools, tax revenue for local governments, capital investment that generates construction jobs, and support for local businesses. The revenue NYGA members generate for racing and breeding also directly supports upstate agribusiness that includes family farms and thousands of jobs. NYGA’s educational contribution has been growing annually, and now totals $7.5 billion for New York State schools since 2004. Furthermore, NYGA generated $87 million in tax revenue for state and local governments, bringing their total tax revenue contribution to $391 million since 2007.
Top Line Findings Include:
- $3.3 billion in combined economic activity in 2016
- $905 million generated in funding for New York State education aid in 2016, and a total of $7.5 billion since 2004.
- $87 million in tax revenue for state and local governments in 2016, and $391 million since 2007
- $264 million in capital improvements to NYGA’s facilities in 2016, and $1.8 billion since building the original facilities
- $221 million in support of New York’s Standardbred and Thoroughbred racing industries
- $27 million for breeding and agricultural related businesses such as family farms, feed producers and veterinarians
The full 2016 report, including a breakdown of top line findings from each of NYGA’s nine member facilities, can be found here: