Участник:At yesterday's hearing, Springfield policymakers considered a number of suggestions on how to develop local funds wisely.
The state economic development co - committee held a hearing at Springfield Technical Community College in Springfield, with state senators Eric P. Lesser, D - Longmeadow and state representatives Joseph Wagner and D - Chicope chaired the panel. The main purpose of the meeting was to discuss how money generated from gambling activities should be distributed.
Investment Proposal Summary Among others, Richard Sullivan, president of the Western Massachusetts Economic Development Council, suggested that the local Pioneer Valley should invest a certain amount in further development in the region because it is a popular tourist destination throughout the year and could revitalize the local tourism sector. It will also contribute to the economic growth of the city and the revival of SMEs.
The committee also noted the social and economic challenges facing Massachusetts's gateway cities (11 cities in the state's metropolitan area) over the years. It suggested that some of the profits generated by gambling activities in the city could be invested in local economic development and business regulation. Another prospect discussed by legislators was that they could also invest in education and training of the labor force. The state legislature will have the task of deciding how casino funds will be used when drawing up the 2020 budget.
Under the agreement with the state, the two casino operators are required to pay 25% a year in taxes, which state lawmakers have already decided to use 9.5% to finance various programs to support local economic development, and Sullivan predicts tens of millions of dollars will go into economic development.
Representative Bird L. Williams also recommended the creation of the Western Massachusetts Balanced Sustainable Development Committee.