When legislation was passed in 2007 enabling gaming at Indiana’s racetracks, facility owners and operators were tasked with a set of primary goals, responsibilities and obligations deemed critically important to the economic well being and growth of host communities as well as the State of Indiana. They included:
- Enhancing horse racing, including agribusiness, breeding and racing at Indiana’s race tracks
- Providing economic investment
- Increasing revenues paid to city, county and state government
- Creation of jobs
- Expanding area tourism
- Providing property tax relief to Indiana citizens
Hoosier Park have already embarked on the fulfillment of several of these responsibilities:
- State government is in possession of $150 million, with another $100 million payment due in late 2008. This total, $250 million, will go directly toward Indiana resident property tax relief.
- Our development project, now nearing completion, will provide over $100 million in economic investment, along with providing construction employment and related earnings to Indiana citizens.
Based on our projections, during the first five full years of operation and Hoosier Park will provide:
- Over $200 million in purse money for Indiana’s horse racing industry.
- Over $400 million to state government in direct gaming taxes.
- $40 million to Madison County, of which $18 million will go directly to the City of Anderson.
- More than 550 new jobs for primarily local residents. These new jobs, along with existing Hoosier Park employment, represent what is expected to be above $200 million, over a five-year period, in employee earnings, including wages, tips and benefits.
We also project more than 3 million visitors a year to our Hoosier Park facility. This represents a vast increase in regional tourism growth and expenditures in our local community.
The aforementioned obligations and projections do not include expected direct and indirect increases in innkeeper’s taxes, sales and use taxes, property taxes and state income taxes due to our operation.
At Hoosier Park, we are a proud partner in the economic growth of our local communities and the State of Indiana.