"Right plan, right time for Ohio"

- Proposal would create 20,000 new jobs

- $651 million annual tax revenue for counties, cities and school districts

COLUMBUS, Ohio, June 25 /PRNewswire/ -- Signatures from more than 850,000 Ohioans were filed with the Secretary of State today to put the Ohio Jobs and Growth Plan on the November statewide ballot.

The proposed constitutional amendment would authorize casinos in the downtown areas of Cleveland, Columbus, Cincinnati and Toledo. It would directly create 20,000 new Ohio jobs; require at least $1 billion in private investment and produce $651 million in annual casino tax revenue in the first year - a total of more than $3.5 billion over the first five years of operation. Most of the tax revenue will be distributed among the 88 counties, the state's eight largest cities and every school district in Ohio.

The amendment also requires upfront license fee payments to the state of $50 million for each casino - a total of $200 million.

The filing included signatures from all 88 Ohio counties. In 80 counties, the total number of signatures exceeded 5 percent of the votes cast in the last gubernatorial election, far surpassing the Constitutional requirement of 44 counties.

"The very significant total of signatures we've obtained, and the large number of counties in which we qualified, tells us that voters all over Ohio understand the benefits in terms of economic development and revenue for local governments and schools," said Charlie Luken, chairman of the Ohio Jobs and Growth Committee.

"In addition to the massive private investment, the job creation and the billions of dollars in casino tax revenue, we are confident that the proposal will spark urban development that will revitalize these downtown areas," Luken said. "This is especially important at a time when the state's economy is suffering and unemployment is in double digits."

"When we began this effort, we said it is the right plan at the right time for Ohio," Luken said. "This is far and away the best proposal for expanded gaming ever put before our state's voters. Once the Secretary of State determines that the issue is qualified for the ballot, we look forward to conducting a vigorous educational campaign that will demonstrate the value to Ohioans of our plan."

Luken also referred to a soon-to-be-released economic impact study conducted by the University of Cincinnati's Economics Center for Education and Research for the Ohio Jobs and Growth Committee.

The study estimates that the proposal will generate nearly $11 billion in total economic impacts and more than $4 billion in fiscal revenues for the state of Ohio during construction and the first five years of operation.

The UC study also indicates that the economic impact on the state includes nearly $2.66 billion during construction and almost $1.5 billion during the first year of operations, with increases in each of the succeeding years.

The four proposed casinos are also estimated to generate $256 million in fiscal revenue for the state during the construction phase and $663 million in the first year of operations, with increases in the subsequent years. In addition, the total near-term impact of the casino proposal is more than 23,000 construction-related jobs statewide, as well as more than 15,000 permanent jobs from ongoing operations.

Helping to deliver the 214 cartons of signatures to the Secretary of State today were volunteers from the Ohio AFL-CIO and the Ohio State Council of Building Trades. Both labor organizations have endorsed the ballot issue, citing the job creation and economic development it will bring.

The amendment calls for the casinos to be built in the downtown areas of the four cities to maximize the economic development benefits. Locations are:

    --  In Cleveland, adjacent to Quicken Loans Arena, near the Cuyahoga River.    --  In Cincinnati, at Broadway Commons.    --  In Columbus, on West Nationwide Blvd., just west of the Arena District.    --  In Toledo, along the Maumee River where local government officials are        attempting to create an exciting riverwalk area.

The revenue estimates - which have been confirmed by The Innovation Group, a leading international gaming and hospitality consulting firm - are based on a mandatory 33 percent tax on gross casino revenues. The $651 million figure is for the first full year of casino operations (2013), and tax revenue estimates rise to $771 million by the fifth year of operation.

The casino tax revenue would be distributed as follows:

    --  51 percent (an estimated $332 million a year) among the 88 counties,        based on population.        --  In counties whose largest city has a population greater than 80,000,            half of the county's distribution goes to that city (NOTE: This            provision benefits Akron, Canton, Cincinnati, Cleveland, Columbus,            Dayton, Toledo and Youngstown).    --  34 percent (an estimated $221 million a year) for distribution to all        public school districts, to support primary and secondary education        (distribution to school districts through each county based on student        population).    --  5 percent (an estimated $32 million each year) apportioned among the        casino host cities.    --  3 percent (an estimated $19 million each year) each for:        --  The Ohio State Racing Commission to help revitalize the horse racing            industry in Ohio        --  Funding the operations of the Ohio Casino Control Commission    --  2 percent (an estimated $13 million each year) each for:        --  Treatment of problem gambling and substance abuse, including related            research        --  Training for law enforcement agencies

Primary backers of the proposal are:

    --  Penn National Gaming, Inc., a prominent operator of gaming facilities        and horse racing tracks, including Raceway Park in Toledo; and    --  Dan Gilbert, through his Rock Ventures partnership. Gilbert is majority        owner of the NBA Cleveland Cavaliers and operator of Quicken Loans Arena        in downtown Cleveland, as well as Chairman and Founder of Quicken Loans,        which operates a 350-person Internet web center in downtown Cleveland.        Gilbert, who began investing in Ohio in 2005, employs more than 2,000        people in five separate businesses throughout the state of Ohio.

Pd. for by Ohio Jobs and Growth Committee, Bill Curlis, treasurer, 865 Macon Alley, Columbus OH 43206

SOURCE Ohio Jobs & Growth Committee