Kansas Racetracks Provide a Positive Impact to the State Economy
Race for Kansas
supporters share economic benefits of Horse and Greyhound racing with legislators,Topeka, Kan., March
3,
2016:
As
Kansans learn that
the State
received
$53
million
less than, expected in tax revenue furing February 2016 -
forcing a
$17
million
budget
cut to
higher
education,
Race for
Kansas
(HB
2537)
offers a
solution
to
supplement
the
budget
shortfall
with
more
than
$23
million
of additional
revenue to
the state
of
Kansas. On February 25 legislators
in
the
Commerce, Labor
and
Economic
Development
Committee
hosted
an
informational
hearing
on
the
economic
impact
of
Horse
and
Greyhound racing
to
Kansas
commerce.
Representative
John
Barker, Abilene, sponsored
HB
2537 and sees
it as a
positive
move for
Kansas. "Passage
of HB
2537
is a
boost
to
the
Kansas economy,
is
good
for
Kansas agriculture
and
supports
the
addition
of
several thousand
jobs
in
Kansas.
The
ranchers
and
businesses
who support
this legislation
are not
asking
for
any
state
incentives.
They
are
simply
asking
that
the
tax
rate
be
set
at
an
economically
viable level," Rep.
Barker
stated during
the
hearing.
Dr.
Arthur
P.
Hall
presented
his
economic impact
study
on
the
Kansas racing sector
to
legislators
today
saying,
"The
bottom line
is
that the
net
economic
impact of Horse and
Greyhound
racing
is very
positive."
According
to
Dr.
Hall's
economic
impact
study,
the
"restoration
of
live
horse
racing
and
greyhound
racing in
Kansas
will
generate an
estimated
4,475
jobs,
$291
million
in
annual
wages,
and
$23
million in
annual
state and
local
tax
revenue-not
counting
revenue
derived
directly
from
gaming."
Dr.
Hall added,
"No
economic development incentives
are
involved
with
restoring
the
racetracks. To
motivate
at
least
$160
million
in
private
investment,
the
investor
seeks
only
the
opportunity
to
compete
on a
level playing
field with
the
destination casinos, by
partnering
with the State on
the same
terms
as
the
casinos."
For more information and to support the initiative, visit
RaceForKansas.com. Find your legislator and tell them why Race for Kansas is important to you, your business and your community.
