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How casinos and the new casino boom have impacted the state of Arkansas

How casinos and the new casino boom have impacted the state of Arkansas

In 2016, Arkansas opened its first casinos in its state, adding another to the state’s $60 billion gambling industry.

It has been estimated that, by 2024, the state will have over $2 trillion in gambling revenues and a state tax base of $50 billion. 

While many believe that casinos have been a boon to the economy and the state, there is also an important debate that is being raised about whether casinos have actually had an impact on the state economy, or whether they have merely been part of a broader trend.

In fact, in an article titled “What Is the Evidence That Casinos Have Increased Jobs and Growth?” published by the Center for Public Integrity, researchers from the Economic Policy Institute and the Center on Budget and Policy Priorities analyzed the economic effects of casinos in Arkansas.

Their conclusion?

There is no evidence to support the assertion that casinos create jobs, and in fact, they have actually been detrimental to the Arkansas economy.

The authors conclude that “Casinos do not create jobs.

They simply serve as a tax shelter for businesses that would otherwise lose out in a downturn in their local economy, thereby reducing incentives for job creation.” 

The authors go on to say that “in fact, the evidence from this analysis is mixed, with one study finding that the economic impacts of casinos are not significant.

However, this study does not include information on casino tax revenues, which may not accurately capture the true costs of casinos and how they are distributed.” 

In addition to the economic analysis, the authors of the study also looked at how casinos have affected the state through tourism, which they claim is “the state’s largest industry.”

They also looked into whether casinos contribute to local economies, including by “facilitating local manufacturing and exports,” and how “local manufacturing has been a key component of the state recovery.” 

This last point has been an issue of some controversy in the state.

Earlier this year, Governor Asa Hutchinson said that casinos are a good thing and that they will “bring jobs to our state.”

In 2016 Governor Hutchinson told the Arkansas Democrat Gazette that, “The casinos are important to the business community.

The casino industry creates thousands of jobs.

It creates revenue for our state.

It’s a very good thing.

We’re trying to grow it, and they’re helping us grow.”

However, during the same press conference, he also said that, “…the casinos have not created a whole lot of jobs, that’s what I’m saying.” 

During his 2016 State of the State address, Governor Hutchinson said, “It’s true that the state has been hurt by the loss of local jobs and the loss, of jobs that were there for years.

It is true that there have been jobs lost here, in other parts of the country.

But what we’ve found is that it has not had a big negative impact on our economy.

We’ve been able to recover, and the economy has rebounded, because we’ve taken a lot of the negative impacts off the table.” 

While it is true the economic impact of casinos has not been as great as it was during the recession, it is also true that they have also had a positive impact on Arkansas.

The Economic Policy Initiative (EPI) conducted a study that looked at all of the economic indicators in Arkansas between 2006 and 2021.

The report found that casinos “created over 6,000 jobs in the Arkansas workforce in 2017 alone,” and the economic results are not only positive, but they also showed that casinos helped boost economic growth in the city of Arkadelphia. 

“The economic effects that casinos provide to the region are both positive and robust,” said Dan Johnson, President of EPI.

“In fact, casino tax revenue is one of the top five economic drivers for the state and one of Arkansas’ biggest contributors to its local economy.

This economic impact is one reason why we’ve seen an increase in employment in the past few years, as the state continues to grow.” 

With this in mind, what are the real economic impacts that casinos and their associated economic impact have had on Arkansas?

Are casinos doing any good for the economy?

And if so, is that a good or bad thing? 

Based on the research and the fact that casinos in the states economy have been the primary driver of the economy, the answer is definitely a positive one.

In 2017, casino revenues increased by $3.7 billion in Arkansas, the largest increase in the nation, and according to the Economic Development Commission of Arkansas, these numbers are expected to continue to grow.

The state has also seen an uptick in tourism, with the state also seeing a $7.8 million increase in hotel room occupancy in 2017, the third-highest increase of any state in the country after Florida and New York.

The fact that the casino industry has helped bring in thousands of new jobs is one positive.

But there are

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