Cedar Rapids Metro Economic Alliance backs local casino proposal

CEDAR RAPIDS - The Cedar Rapids Metro Economic Alliance's Policy Board and its Business Support Innovation Council are announcing their support for the local investment group's proposal to bring casino gaming to the metro area.

"The proposed development, investment and ownership structure help ensure this casino would benefit the Cedar Rapids regional economy by creating good jobs, contributing to community development and encouraging additional redevelopment and investment," Dee Baird, president/CEO of the Alliance, said on Monday.

The Policy Board and Innovation Council voted to back the casino project because of the 360 new permanent jobs with an average wage and benefits of $42,000 a year; the 130 high-paying construction jobs during the building of the casino; and $2.4 million in annual grants to worthwhile projects throughout Linn County, an amount that could grow to $4 million after 10 years.