Galion Schools Set to Receive Casino Tax Proceeds
There’s some good revenue news on Portland Way North.
On Wednesday, industry experts issued projections for revenue from the state’s four new casinos. With modest benefits coming in the next two years as the facilities come online, the total tax revenue by the end of 2013 should amount to some $643.5 million annually, according to this article in the Plain Dealer.
According to the Ohio State Constitution, casino tax revenue is to be split between Ohio’s eight largest communities and the state’s 610 school districts, including Galion City Schools. Schools receive a proportionate share no matter where they are located in the state – they need not be situated near a casino operation.
For Galion Schools, it should result in revenue building over the next two years to an anticipated $290,000-plus annually by the end of 2013. This is based on the formula of $132.27 per student times the district’s enrollment of approximately 2,193 students.
Of course, this means that districts like Galion with a net outflow of students in open enrollment will lose some additional dollars to its neighbors.
The nearest casino to Galion will be that located on the west side of Columbus. According to this November article in the Columbus Dispatch, the “Hollywood Casino” will also feature green space, an RV park, and ponds – and will cost a hefty $400 million. Total estimated jobs are pegged at 2,000, with an additional 3,500 temporary construction jobs as well.