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 Economic impact studies are often essential components for development projects. The Innovation Group provides stand-alone impact studies or as part of a feasibility study. |
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Cancun, Mexico The Innovation Group developed a marketing study for submission to the Mexican government evaluating the economic benefits of gaming development in Cancun. The historical and current status of tourism development in the region were evaluated in comparison to other Caribbean destinations which offer casino gaming as one component of the vacation experience. The study presented a qualitative assessment of the potential economic benefits and highlighted the experience and talents of the prospective casino operator. Evansville, Indiana As part of the required submittal materials for the licensing process, The Innovation Group developed a market assessment and prepared an economic impact analysis for a riverboat casino in Evansville. The economic impact study evaluated direct impacts, casino jobs and wages and actual spending in the casino by the local community, and projected secondary impacts using RIMS II multipliers. Additional tax revenue collections as a result of both direct and secondary impacts were also estimated. Ho Chunk Nation The Ho Chunk Nation proposed a casino development in the downtown Lacrosse, Wisconsin area, for which The Innovation Group assessed the economic impact. The casino was to be located in an area where a significant volume of inter-state tourism could be expected, but where a minimal amount of tourism had been occurring. The economic impact analysis examined the employment and earnings that would be created at the casino as a result of development, as well as the indirect impact that the Lacrosse community could expect as a result of new dollars being spent in the local economy. New York Racing Association The Innovation Group provided a statewide racetrack casino market forecast for the New York Racing Association, culminating in a projection of revenues that could accrue to the State Lottery, providing additional funding for public education. Additionally, a revenue distribution recommendation was proposed based on existing conditions in states already offering racetrack casino gaming, demonstrating the impact that could be expected at the local and county level. Based on the revenue projections made, it was also possible to project the total employment that would be created by the introduction of racetrack casinos to the state, as well as the incremental earnings that would be attained by residents of the state. |
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