(WBNG Binghamton) The Southern Tier could soon be cashing in on a new casino.
Gov. Andrew Cuomo announced an agreement Wednesday with the Upstate NY Gaming Economic Act.
The act calls for four casinos to be dispersed throughout the state with one coming to the Southern Tier.
"Tax revenues that come from the casinos will be shared with local governments not only in the host community county but all of the surrounding localities in the region," said Howard Glaser, director of state operations.
The tax revenue would be split up three ways:
- 10 percent to the municipality and county where the casino would be located;
- 10 percent to other counties in the casino's region, and;
- 80 percent back to the state for elementary and secondary education, and property tax relief.
Glaser said the casino would increase tourism to the Southern Tier.
"I think we need to do a better job in telling a story about what we have throughout the region and bringing not only out-of-stators but also people from downstate to come and stay in the Southern Tier," Glaser said.
There have been talks of a $50-million licensing fee, but Glaser said there currently is no minimum fee. He said the fee will be set by the a state gaming commission, the members of which would be chosen at a later date.
When looking for applicants to bid on the casino, Glaser said the No. 1 criteria is the casino's economic impact and the jobs it would create.
Glaser said for a resort bid to be considered, it has to have local government and community support.