Iowa Gaming = $2.5 Billion in Economic Activity
Casino gaming supports 16,000 jobs in Iowa and generates $726 million in taxes.
A new study conducted by Oxford Economics examines the immense economic impact of the gaming industry on Iowa’s economy. The American Gaming Association released the first-of-its-kind study, which measures the industry’s significant ripple effect on the supply chain, including local businesses.
Oxford’s study found that Iowa’s gaming industry:
- Contributes $2.5 billion to Iowa’s economy
- Supports approximately 16,000 Iowa jobs and nearly $742 million in income
- Generates $726 million in tax revenues to local, state and federal governments
To put the casino industry's impact in Iowa in context, Oxford's study highlighted these facts about Iowa gaming:
- Without the commercial casino industry’s total employment impact of approximately 16,000 total jobs, the unemployment rate in Iowa would rise from 4.6% to 5.9%
- The commercial casino industry in Iowa supports approximately one out of every 91 jobs statewide
- The commercial casino’s fiscal (tax) impact of $726 million would cover the starting salaries of nearly 22,000 state school teachers
- Without commercial casinos’ total tax impact of approximately $726 million in total tax revenues, households on average would pay an additional $594 in taxes each year