Mississippi’s Tunica Turns to Wind Energy to Propel Economy as Casinos Idle
Local officials inward Mississippi’s Tunica County are betting on a forthcoming wind vim farm to prop upwardly the region’s economic system as casinos at that place keep to see their stage business climate change.
Tunica is i of the to a greater extent impoverished counties, not only if in the state, but inwards the total country. The county situated in the northwesterly component part of Magnolia State continues to control its population decline, with the US Census Bureau estimating that fewer than 10K people now call off the riverboat gambling casino townspeople their home.
The federal government reports that to a greater extent than ace in IV Tunica residents unrecorded in poverty, with the one-year median value household income at simply $41,200. The townsfolk would potential be worsened sour if it weren’t for Tunica welcoming riverboat casinos in the ahead of time 1990s.
Tunica’s riverboats at one time represented single of the largest local gaming industries alfresco of Las Vegas and Atlantic City. But as commercial-grade play has expanded crossways the US inwards recent decades, to the highest degree consequentially in neighboring Arkansas, Tunica’s gaming interests experience struggled to continue patrons. As a result, the riverboats have seen revenue gaming revenue (GGR) tumble.
Economic Gust Forthcoming
While the local saving has certainly been better, Tunica officials are optimistic near reversing those fortunes by path of a wind farm. Virginia-based energy producer AES is building a utility-scale wrap farm in Tunica that will primarily sell zip to Amazon.
Amazon operates fulfilment and sortation centers, a obstetrical delivery facility, and a Whole Foods Market in northwesterly Mississippi. The wind farm testament live the 1st utility-scale current of air farm inward the state.
The jazz farm, Tunica officials say, will present the county millions of dollars inwards yearly holding taxes. Government leaders say the money will aid monetary fund desperately-needed upgrades to the county’s public schools. K-12 prove scores inward Tunica have been among the lowest inwards the country for several years.
Construction of the roll farm has also created 300 temporary jobs, but the facility testament only when require most VII to 10 employees to defend it formerly its operational. The nothingness farm is expected to live ready in ahead of time 2024.
These types of projects are non sledding to add up inwards and solve all the problems with our communities, but it’s a start. It’s a start and a stone's throw in the redress direction,” said Jacques Charles Finkley Jr., manager of the Tunica County Chamber of Commerce and Economic Development.
Critics, however, panned the county’s decision to bring home the bacon AES with considerable task incentives.
County officials tabulator that the air current farm testament bring forth to a greater extent than $60 million inward prop taxes o'er the next 30 years. But if the twist farm hadn’t been lured inwards with those inducements, the vacant holding would get been on the knock off for only if nearly $20K in dimension taxes during the three-decade period.
Casino Fortunes
Tunica’s gambling casino industry consists of septet casinos, including 1st Jackpot, Fitzgerald’s, Gold Strike, Hollywood, Horseshoe, Isle of Capri, and Sam’s Town. The properties are situated due north of Tunica right inwards Tunica Resorts, the resort corridor that was known as Robinsonville until 2005.
Tunica’s one-year gaming revenue declined apiece year from 2012 through and through 2020. Pent-up exact next the pandemic resulted in the sevener casinos winning $696.1 meg inward 2021, which was a nearly 20% surge from 2019 revenues. Play has since subsided, as GGR endure year inward Tunica totaled $636.4 million, an almost 9% year-over-year drop.
During the 2000s and 2010s, Tunica casinos averaged around $1 one million million a yr inwards GGR.