Local leaders in Norfolk, Virginia have come together to heap huge endorsement on the proposed $500m Norfolk Resort & Casino, ahead of the upcoming referendum of November 3 that will determine the future of the project.
Praise for the project includes the economic benefits that the resort and casino will provide to the city and the structure of the deal itself, which requires no public funds or tax breaks for the developer.
It is estimated that the venue, which saw the Pamunkey Indian Tribe selected as preferred developer, will generate annual estimations of $30m in revenue for the city and $50m for Virginia public schools, as well as creating 2,000 construction jobs and an additional 2,500 permanent FTE jobs.
“Hundreds of millions of dollars stand to be invested in our city, which will bring thousands of new jobs for residents,” stated Kenny Alexander, mayor of Norfolk.
“New opportunities will be presented to our businesses and entrepreneurs, and our city will potentially benefit from millions of dollars in new tax revenue that will be committed to public education. This would be the first project of its size to be financed without taxpayer subsidies, and the land for this project will be purchased at full-market-value.”
Joining Alexander as one of 12 endorsements are vice mayor Martin Thomas; city council members Courtney Doyle, Mamie Johnson, and Tommy Smigiel; Virginia senators Lynwood Lewis and Jen Kiggans; delegates Steve Heretick, Jay Jones, and Joe Lindsey; former mayor Paul Fraim; and former Norfolk school board member Yvonne Peele-Wagner.
“What is not to like about millions of dollars in private investment for the city of Norfolk? I was happy to support the casino gaming legislation during the 2020 session and am excited to see these projects finally come to fruition. The Pamunkey’s Norfolk Resort and Casino will be a jewel on the Norfolk skyline, a true destination facility,” noted Heretick.
It is thought that the facility will feature a 300-room full service hotel, 3,000 slots, 150 table games, a 300-room full-service hotel, steak and seafood restaurant, sports bar and grill, cafe, spa and 2,500-seat entertainment venue.
“Leaders from every corner of Norfolk have been so enthusiastic about this project, and the Tribe is grateful for their support,” said Robert Gray, chief of the Pamunkey Indian Tribe. “This has been a true partnership throughout the process, and I know that it will continue to provide benefits for Norfolk well into the future.”