Report suggests Freedom Plaza proposal would create 18,000 jobs
A report by New York City’s Mayor Eric Adams has stated that Manhattan’s last remaining casino proposal would generate 18,000 jobs and $4bn in economic activity. BonusFinder, an online casinos comparison site, gives you the latest on the NYC casino proposals.
The report states that the Freedom Plaza project would generate 17,906 jobs in the construction sector, plus 2,736 permanent jobs once the site is completed. This amount is more than any other casino proposal that could get a license.
“A casino would bring thousands of additional good-paying union jobs and billions of additional dollars in economic development to New York City,” Adams said in a statement expected to accompany the study.
This news follows two Community Advisory Committee votes on Wednesday which quashed two other Manhattan casino bids. One was Manhattan’s Jay-Z backed Caesars Palace Times Square Casino and the other was on undeveloped land on the West Side. Plus, Avenir’s $7bn proposal was also rejected.
Freedom Plaza’s potential location near the United Nations has drawn criticism due to traffic issues near the site. However, when asked about that specific issue recently, he calmed fears surrounding that.
“They’re going to factor in safety. They’re going to factor in location,” he said. “We should not allow parts of the city not to have the potential of having their application examined.”
Interestingly, the $11bn development on the East River barely recognizes the casino in its proposals. Instead, they’re headlining the fact that they would build 1,080 apartments, 1,250 hotel rooms, a 4.8-acre terraced park, a daycare center, a Museum of Democracy, a food hall and more.
On their website, they state: “Freedom Plaza is a vision for a brighter, more inclusive future. With transformative investments in housing, jobs, open space, and culture, this project will enhance East Midtown and our city as a whole for generations to come.”
As such, it’s clear they’re trying to offer more to the community than just a casino. These figures from this report further strengthens that idea. The economic and community benefit from the Freedom Plaza proposal is second to none.
CEO of Soloviev Group, Michael Hershman, highlighted that when news broke of the failure of the two other Manhattan proposals:
“Despite the defeat today (September 17) of two formidable applicants, we remain confident that one license should be awarded in Manhattan. Attracting more tourists than any other borough, the city should have a fully integrated resort that is fitting of its position as the global capital of the world,” Hershman said.
Interestingly, the same report predicts that the Metropolitan Park proposal is predicted to generate the most revenue over the next 30 years. They come first at $11.5bn whilst Freedom Plaza comes third with a predicted $10.1bn figure.
Community Advisory Votes, who are whittling down the proposals, are due by the end of September before the New York State Gaming Commission is expected to announce the (up to) three successful proposals in December.
