| Economic Impact |
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The construction of the racetrack will provide an immediate stimulus to the local economy. The construction will require the employment of many city and regional workers, ranging from the construction industry to architecture firms and food and beverage establishments. The construction phase of the project will create a large number of short-term employment positions, as well as provide supplementary income and employment to those already with jobs. When operating, the racetrack will provide steady employment to workers from the city and throughout the state, not only within its walls, but also externally via the customer and agricultural service industries. With the current rate of unemployment at 5% (2001 figure) and an economic slowdown in progress, the region’s supply of both skilled and unskilled labor could accommodate the vast majority of area residents who are capable and seeking employment. These jobs would include not only those inside the racetrack facility, but also those that will be created throughout the community as attributable to the Presque Isle Downs and Casino development. Therefore, a broad array of skilled and unskilled jobs will be created. Job creation, both temporary and permanent, translates to earnings for area residents. This directly increases spending in the local economy on goods and services, which indirectly results in increased expenditures by merchants to their suppliers. As a result, jobs are created throughout the economy and earnings rise as new spending is introduced. Local merchants and hoteliers will benefit from the introduction of the racing / gaming facility to the area as well. Patrons can be expected to spend some money elsewhere in the area during their visit, ranging from convenience stores and gas stations to area restaurants, hotels, and entertainment venues, such as the Erie Zoo. These expenditures are deemed to be induced by the presence of the Presque Isle Downs and Casino, meaning that these merchants would not be able to expect these revenues were it not for the presence of the facility. Jobs: |





