State analysis: casino would shrink Oregon economy

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Thursday, October 25, 2012

Between now and the Nov. 6 election, promoters of a vast new 3,500-slot-machine casino in Wood Village hope to keep voters’ attention off gambling and on other shiny features of their proposed development—a water slide, concert venue and farmers market.

And they will repeat the sunny claims (echoed by the news media) that the casino would create 2,000 new jobs while generating $100 million annually for Oregon schools and other public services.

“Fun for you,” the casino backers say. “Good for Oregon.”

But supporters of Measures 82 and 83, which would authorize the casino, probably won’t be talking about one financial analysis that sinks their arguments.

The analysis, obtained by WW, was written by the nonpartisan Legislative Revenue Office and takes into account all the impacts—positive and negative—from a huge casino in east Multnomah County.

The bottom line: The casino would probably cost state and local governments money and, on a broader basis, actually shrink the Oregon economy.

Read more in today's Willamette Week.

 

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