Parente: Casino profits are people’s losses

Parente: Casino profits are people’s losses
Posted Nov 06, 2013

MILFORD —

I recently explained at a public forum the 1980 industrialization of Milford’s publicly owned, 100- acre, granite site located along I-495. Banker & Tradesman described the proposal as an “outstanding job creation partnership including business and government.”

A casino supporter later likened the partnership to a local tax reduction program. Clearly my critic has no working knowledge of economic target programs that allow communities to negotiate property taxes with job creation when land is cost prohibitive to development.

The first development in exchange for financial and zoning relief produced Boston’s Prudential Center, built on land that would have remained stagnate had it not been for legislation that allowed negotiated tax assessments in exchange for new jobs.

Milford’s town officials followed Boston’s example and created approximately 10,000 jobs in Milford Granite Industrial Park, Bear Hill Industrial Park, and surrounding industrial areas. As a Selectmen, I worked with all town boards to extend public services to the sites.

A major economic factor differentiates the 1980 proposal from the Foxwoods proposal. All the money invested in the 1980 proposal produced real dollars. Paychecks supported families, investors deposited their money in bank accounts, and town coffers were replenished. However, for the casino investors to fund their promises to Milford, we the taxpayers have to lose.

Casino profits are built on our losses. Do we want millions of dollars taken from our local economy - gambled, lost, and deposited in the bank accounts of the casino cartel? Robert DeNiro said it all in the movie Casino, “If we keep them busy long enough, we get it all back.” Casino profits are generated by the people’s losses.

MARIE PARENTE
Milford

Read more: http://www.metrowestdailynews.com/opinions/letters_to_the_editor/x915440746/Parente-Casino-profits-are-people-s-losses#ixzz2jvHgiKey
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