Millions of Dollars in Casino Taxes Are Reinvested in Iowa
As the April 18th deadline passed for most citizens to file their taxes, Iowa’s 19 commercial casinos once again contributed millions of dollars in gaming tax revenue this year. In the 2016 fiscal year, the casino industry paid more than $321 million—which the state legislature allocates for many worthwhile and visionary initiatives positively impacting every citizen.
This tax money is distributed across several different categories -- at a glance, the 2016 revenue generated by casinos went toward:
- Community Attraction & Tourism Grants (RIIF)
- Nursing Home Facility Improvements (RIIF)
- Pappajohn Sculpture Garden, Des Moines (Vision Iowa)
- Keep Iowa Beautiful (Environment First Fund)
- Farm Demonstration Program (Environment First Fund)
- Rural YMCAs (Cultural Affairs/Tourism)
- Department of Education - Workforce Training (Iowa Skilled Worker & Job Creation Fund)
- Board of Regents - Regents Innovation Fund (Iowa Skilled Worker & Job Creation Fund)
- Main Street Projects (Revenue Bonds)
- Voting Equipment (Technology Projects)
When you factor the four criteria of wages and benefits for 9,500 employees, the nearly 80 percent of products and services purchased from Iowa-based companies, grants to thousands of worthy charitable projects, and these taxes paid — it totals a $1 Billion annual impact to the state and its economy.
Iowa’s commercial casinos have deep roots in their communities are continually reinvesting in our state. For a more comprehensive listing of the gaming tax revenue allocations and projects that benefit, view 2016’s Appropriations and Outlays overview.