In a pivotal move for Santee, South Carolina, a proposed casino and resort could mark the dawn of economic revitalisation in this quaint town within Orangeburg County. The Santee Development Corporation’s impact study reveals this development could attract over four million visitors annually, ushering a flow of tourists from both near and far. Mega donor Wallace Cheves plans to finance the project on a site dominated by abandoned structures of what was once the Santee Outlet Mall, dormant for over a decade.
A thorough economic development analysis indicates that the casino could yield more than $75 million annually in tax revenue, alongside creating approximately 4,618 jobs statewide. College of Charleston’s Professor of Economics, Frank Hefner, asserts that for such a small community, sourcing employees may necessitate attracting individuals from beyond its borders. “Growth changes things in a community, and that’s going to happen,” Hefner noted, highlighting the dynamic shifts that come with economic expansion.
The proposed casino comes with an impressive $1 billion construction cost, and projections suggest an astonishing $8 billion economic impact across South Carolina within the first decade. This venture promises to create thousands of high-paying jobs, invigorate tourism, and further enhance local business landscapes, as outlined by Cheves. Remarkably, the Santee Development Corporation has pledged that the project will be entirely privately funded, requiring no public financial input or state incentives.
To bring this ambitious vision to fruition, the corporation is collaborating with state legislators to pass a bill that seeks to amend the South Carolina Code of Laws, establishing the ‘South Carolina Gaming Commission.’ Representative Chris Murphy leads this initiative, aiming to facilitate the licensing of casinos in designated counties, paving the way for this potential economic boom.
The proposed casino and resort in Santee, SC, could transform the local economy by attracting 4 million annual visitors and generating over $75 million in annual tax revenue. Funded privately by Wallace Cheves, the project will create thousands of jobs and promises an $8 billion economic impact over ten years. Collaboration with legislators is underway to establish the ‘South Carolina Gaming Commission’ for casino licensing, all without public funding.
This proposed casino and resort in Santee holds the promise of an economic renaissance for Orangeburg County, attracting millions of visitors and generating substantial tax revenue. By funding the project entirely privately, it aims to sidestep public financial involvement, while still supporting local employment and business growth. With legislative support in place, this venture could reshape the economic landscape of the community, heralding a brighter future for its residents.
Original Source: www.live5news.com
