LEWISTON, Maine - (Business Wire) The Olympia Group today released a study outlining the projected economic impact of the proposed Oxford Highlands Resort-Spa-Casino in Oxford County. Dr. Clyde W. Barrow, Director of the Center for Policy Analysis at the University of Massachusetts, Dartmouth, and principal investigator for the New England Gaming Research Project, conducted an independent economic and fiscal impact analysis of a resort casino planned for Oxford County, Maine.
According to the report, in addition to creating 1,277 new jobs during the construction phase, the resort casino will generate 907 full-time and part-time jobs upon final build-out. The casino will support a $32.5 million payroll, and earn $164.1 million in total annual revenues. $69 million additional revenue will be paid to the State of Maine each year.
“The operation of a resort casino in Oxford County will not only improve employment levels in Oxford County, it will improve overall job quality,” said Barrow. “The resort casino will pay average annual wages that are sixty-eight percent (+68.3%) higher than in Maine’s hotel and accommodations sector.”
Last week, the Olympia Group unveiled preliminary plans for the Oxford Highlands Resort-Spa-Casino. The project will include a 300 room hotel, a large conference center, a casino featuring up to 1,500 slot machines, a wide variety of table games, fine and casual dining options, a spa, indoor and outdoor pools, parking for guests and accommodations for snowmobiles, cross country skiing and numerous other year round amenities.
Spokeswoman, Pat LaMarche, said, “This report is very good news for the people of Maine and Oxford County. The analysis exceeds all of our projections for jobs and revenue to the State. I encourage everyone to visit our web site at www.voteyeson2forMaine.com for complete details.”
Other projections from the Economic Impact Study:
-- The Olympia Group plans to invest $184.2 million in the Oxford Highlands Resort- Spa-Casino.
-- In addition to the 1,277 construction jobs resulting from building the resort casino, construction-related and consumer expenditures by construction workers will support an additional 458 jobs off-site with an additional $12.8 million in payroll during the construction process.
-- In addition to the 907 permanent jobs at the resort casino, local purchases by the resort for operations and consumer expenditures by the resort casino’s employees will support an additional 592 permanent jobs off-site with an additional $16.6 million in payroll during the construction process.
The full report will be available at www.voteyeson2formaine.com
About the Olympia Group
The Olympia Group is a multifaceted organization whose subsidiaries and related entities include the successful 2,750-acre Southern Highlands master-planned community in Las Vegas, as well as some of the most desirable and high-profile real estate and mixed-use projects throughout the state of Nevada. The formation of a gaming division reflects the natural evolution of the company that opened the successful Casino Fandango in Carson City, Nevada in 2003. Olympia is in the planning stages of several gaming projects including Legends Bay Casino-Resort-Spa, a mixed-use destination resort in Sparks, Nevada and Southern Highlands Casino-Resort-Spa, a mixed use casino and destination retail lifestyle center located on 100 acres in Las Vegas’ emerging South Strip entertainment corridor. In addition, it holds numerous other entitled gaming sites in Las Vegas and northern Nevada. Olympia's extensive development expertise positions it as a multi-faceted corporation capable of overseeing all aspects of a mixed-use real estate and master-planned gaming project. For more information on Olympia Group visit www.olympiagroupcompanies.com.
PAC Vote Yes on 2 for Maine
Pat LaMarche, 207-671-0190
info@voteyeson2formaine.com
