The Board of Directors cited the benefits to the hospitality industry in making its endorsement:
- Creating 34,000 new jobs statewide (19,000 construction and 15,000 on-going operational);
- Generating an estimated $37 million annually in tax revenue to be shared by Cuyahoga County and the City of Cleveland;
- Driving an estimated 8 million visitors to just the Cleveland casino (local and out-of-town);
- Recapturing $1 billion of the $1.4 billion lost to neighboring states each year as Ohio residents leave the State to gamble.
The Board of Directors added a clause to the endorsement urging the developers to “work with the hospitality industry to ensure the casino provides the maximum economic impact for businesses outside of the casino.” That process began at a meeting hosted by Dan Gilbert and held at Quicken Loans Arena (“The Q”) shortly after the board meeting to which hotel and restaurant partners in the Cleveland Plus region were invited. The purpose of the meeting was to inform hotel and restaurant management about the plan, and to encourage feedback and suggestions from hospitality industry leaders.
Gilbert has demonstrated his dedication to building the urban core, and – particularly for Cleveland – has put his money on the line to create new jobs and to revitalize the Cavaliers. “The plan for Cleveland’s casino, situated next to Tower City and The Q, does not include a hotel and minimizes the number of restaurants,” said Dennis Roche, President of Positively Cleveland. “This will help to encourage casino visitors to patronize existing businesses outside of the casino, which is an important point for the city’s hospitality community.”
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