Floating Casinos Wrecked, Millions in Tax Dollars Lost Daily; Mississippians for Jobs Says Rebuilding Ashore Will Assure Revenues to Benefit Citizens Again - Monday 12th of September 2005
With millions in tax revenues lost daily because Mississippis offshore gaming industry has been destroyed by Hurricane Katrina, and with banks and insurers reluctant to support new floating structures, business groups have formed an alliance to ask the State Legislature to allow reconstruction adjacent to the waters edge.
"The people of Mississippi benefit in many, many ways from the estimated $95 million in taxes that goes directly into the state treasury from the coastal gaming industry, and the fact is all of that is about to go away," said Woody Bailey, Chairman of Mississippians for Jobs. "The citizens of this state have suffered terribly from the storms, and it will be a tragedy if they have to suffer even more when state services are cut back because coastal casino tax revenues dry up."
Mississippians for Jobs, along with the Harrison County Board of Supervisors, the State Department of Tourism, Coastal Convention and Visitors Bureaus and other business groups, are calling on the State Legislature to approve measures allowing the coastal gaming industry to reconstruct the 13 resorts destroyed by Katrina slightly inland because banks and insurance companies have balked at plans for reconstruction over water.
"Look at all of the good this industry has done for our state, for roads, schools, medical care, public safety and economic growth in general in the past 12 years," said Beth Carriere, Director of Hancock County Visitors Bureau and President of Mississippi Coastal Visitors Partnership. "It would be a shame if the legislature failed to support this vital industry in its time of need, and essentially asked all Mississippians to get ready for huge budget and service cuts. Its a survival issue."
The whole state of Mississippi will feel the effects. "With inevitable budget cuts, children will lose teachers and the Highway Department will lose an estimated $20 to $30 million," said State Sen. Tommy Gollott, D-Biloxi.
The 13 coastal casino resorts destroyed by Katrina also attracted an estimated 3 million tourists to the region annually, generating millions of dollars more in tax revenues from retail sales, dining out, local entertainment, lodging and motor fuel purchases that benefited cities and towns throughout Mississippi. The resorts directly employed 17,000 people and more than 50,000 indirect employees.
If shore based reconstruction is approved, Mississippians for Jobs spokespersons say the new resorts will be larger and feature more amenities - qualities that will attract even more patrons, create more jobs and generate even more tax revenue to benefit all Mississippi citizens.
"We must also consider what sort of message it sends to businesses considering coming to Mississippi if we simply sit back and let a large part of an industry die," said State Sen. Ralph Doxey, R-Holly Springs. "Who will want to locate in a state that abandons an industry when it is down and out? I wouldnt."
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